1st Source Corporation, the parent company of 1st Source Bank, promoted Brett Bauer to CFO and treasurer with responsibility for accounting, finance, asset liability management, treasury management and investor relations. In addition, 1st Source Corporation promoted John Bedient to chief operations officer of 1st Source Bank. Bedient will oversee a new operations group combining both deposit and loan operations.
“Both colleagues were promoted due to their long-term service and success at 1st Source, as well as their service, dedication and desire to live the bank’s values,” Christopher J. Murphy III, chairman and CEO of 1st Source Corporation, said. “These new responsibilities harness the unique capabilities of each for the benefit of the company, their colleagues and, most importantly, the bank’s clients and shareholders.”
Bauer has served as chief investment officer at 1st Source since late 2012. In this role, he has been responsible for managing 1st Source’s funding and treasury functions, bank liquidity, municipal and large CD pricing and services and a $1 billion-plus investment portfolio as well as setting and managing the bank’s asset liability policy and approach. He has also played a role in vetting tax equity investments in 1st Source’s solar financing business and recently took over responsibility for the company’s financial analysis unit. He initially joined the bank as a corporate trainee in 1999 before becoming a trust investment analyst in 2000 and serving there until 2002.
After his initial tenure with 1st Source, Bauer joined Bear Stearns Japan in foreign securities operations and later served as a vice president in the government securities portfolio management area for Bear Stearns. He rejoined 1st Source in 2006 and between the years 2006 and 2012, he held the roles of investment officer in funds management and manager of bank investment operations in the funds management division.
“Throughout his career here, Brett has lived our values and exhibited a balanced approach to managing our risks as well as using a collaborative approach to working with his colleagues. We know this approach and his dedication will serve him and our organization well as he enters his new role,” Murphy said.
Bedient has served as 1st Source’s group head of administrative services and retail operations since 2018 and has been a leader in the bank’s retail and deposit services areas in various capacities since 2008. He joined the bank as a financial analyst in accounting upon completing his undergraduate degree, and in 1995 became the assistant controller in the specialty finance group (SFG) and was later promoted to assistant vice president in this role.
At the end of 1998, Bedient became a sales officer in the specialty finance group, during which time he gained experience serving clients and offering products and services. In late 2001, Bedient was asked to apply his accounting and analytical skills to the bank’s securitization funding efforts dealing with outside investors, credit guarantors and gain on sale accounting and reporting. In 2005, he became a leader in 1st Source’s core conversion efforts, working with line and staff leaders across the bank to install an upgraded core system.
“John has proven his ability to handle complex organizations and tasks and has the analytical skills to work with his operations team to find new and better ways to simplify and better automate our businesses to serve clients well and operate more effectively and efficiently,” Murphy said. “We know he will continue to apply this approach to his new responsibilities and will successfully utilize this perspective to best serve our clients and communities well into the future.”
