Magazine article American Banker

Longtime Key Exec Joins First Marblehead

Magazine article American Banker

Longtime Key Exec Joins First Marblehead

Article excerpt

First Marblehead Corp., a provider of outsourcing services for private student loans, has named as its president and chief operating officer Jack L. Kopnisky, the former president of consumer banking at KeyBank.

He will join the Boston company Sept. 6 and succeed Ralph James. Mr. James left First Marblehead in April, less than six months after reducing his responsibilities to the role of vice chairman.

Mr. Kopnisky, 49, left KeyBank in late July. He had overseen the KeyCorp unit's national branch network and other consumer finance units, such as mortgage, home equity, and educational lending, for almost four years.

In his 17 years at KeyCorp, Mr. Kopnisky's posts included district president in Cincinnati and head of the retail investment brokerage business. He also led the team that integrated McDonald Investments Inc. after the Cleveland company bought McDonald in 1997.

Daniel Meyers, First Marblehead's chairman and chief executive, cited Mr. Kopnisky's experience integrating companies in a press release issued Monday.

Matt Snowling, an analyst at Friedman, Billings, Ramsey & Co. Inc., interpreted that comment to mean Mr. Kopnisky could help First Marblehead's clients better integrate student lending into their other businesses -- not that it is on the hunt for acquisitions. A spokesman said executives were unavailable for comment.

The hire "brings some depth of management" to First Marblehead, which has "grown into a sizable company" since going public two years ago, Mr. …

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