Capital Bancorp renewed Ed Barry’s employment agreement through December 2027 and evolved its executive leadership structure designed to support the company’s long-term vision.
In connection with the renewal of his employment contract, Barry will continue to serve as CEO of Capital Bancorp. In this capacity, he will continue to focus on enterprise-level strategy and executing the company’s key strategic initiatives.
In conjunction with the renewal, Steve Poynot, currently president and chief operating officer, will be elevated to CEO of Capital Bank. In this role, Poynot will continue to lead the commercial bank. Poynot will also retain oversight of Windsor Advantage.
“Our long-term growth strategy is built around creating a diversified financial services enterprise comprised of a core commercial bank and a set of differentiated, high-performing businesses,” Steven J. Schwartz, chairman of the board for the company, said. “This leadership alignment acknowledges the complexity of our enterprise and ensures that we continue to harvest the investments that we have made in our commercial banking franchise, while continuing to maximize the growth of our other lines of business.”
Poynot joined Capital Bank in 2022 as president and chief operating officer and has over 25 years of experience in commercial banking. His elevation formalizes the leadership role he has played in managing the bank’s commercial banking business and core operations and provides dedicated executive focus on the bank as Capital Bancorp continues to grow and diversify at the enterprise level.
