Daily News: July 30, 2014

Sun National Bank Announces Proposed Management Team Hires

Sun Bancorp announced several proposed executive appointments at its primary subsidiary, Sun National Bank.

“As we embark on the execution of our restructuring plan, we have bolstered our executive management ranks in order to efficiently deliver on multiple strategic initiatives,” stated Thomas M. O’Brien, president & CEO. “As we grow and build a best-in-class bank, I am very pleased to announce these important proposed new additions to our leadership.”

The bank agreed to hire Nicos Katsoulis as its executive vice president and chief lending officer, subject to prior receipt of regulatory non-objections from the Federal Reserve Board and the Office of the Comptroller of the Currency (the OCC). Katsoulis has been acting as consultant to the bank and will be appointed as an executive officer upon receipt of each of these regulatory non-objections. Katsoulis has previously served as chief lending officer at several banks and also as a member of the board of directors of State Bancorp, and chair of its Loan Committee and Special Litigation Committee.

The bank also announced it agreed to hire Anthony J. Morris as executive vice president and chief banking officer, subject to OCC regulatory non-objection. Morris is expected to join from the CIT Group and brings more than 30 years of banking leadership experience. He is expected to lead the Bank’s entire customer experience functions, including information technology and the retail banking lines of business. Morris will serve as a consultant to the bank beginning on August 4, 2014 until his official appointment after receipt of OCC regulatory non-objection.

To read the entire press release, click here.