First Foundation, a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank, reported David DePillo, who has served as president of First Foundation and First Foundation Bank since 2015, will step down, effective immediately.
Chief financial officer, Kevin Thompson, has been named interim president of First Foundation and First Foundation Bank while the bank conducts a comprehensive search for a permanent replacement for this role. Thompson will continue to report to CEO, Scott F. Kavanaugh.
“The entire executive management team appreciates the service David has given to First Foundation over the last seven years,” Kavanaugh said. “His contributions to the bank and his commitment to the execution of strategic initiatives have been meaningful. We wish him well as he pursues his future endeavors.”
Thompson has served as First Foundation’s chief financial officer since 2020. Prior, he was executive vice president, chief financial officer and treasurer at Opus Bank from 2017-2020, where his responsibilities included accounting and finance functions, including financial performance and reporting, strategic planning, investor relations, tax and coordination of external auditors and banking regulators. He has held key leadership positions at Midland States Bancorp, Zions Bancorporation, American Express and Centurion Bank.
“I have full confidence that Kevin’s extensive leadership experience coupled with his impressive business acumen will benefit our competitive strategies as we navigate the current environment,” Kavanaugh said. “I look forward to working with Kevin in this capacity and know he will make an outstanding interim president.”
In his role as Interim president, Thompson will be responsible for implementing the mission and vision of the bank and overseeing all areas of consumer and commercial banking, in addition to leading the financial operations, finance teams, corporate development, human resources and vendor management for First Foundation Bank and First Foundation Advisors.