Magazine article American Banker

First NBC in la. Replaces CEO as Part of Management Shake-Up

Magazine article American Banker

First NBC in la. Replaces CEO as Part of Management Shake-Up

Article excerpt

Byline: Paul Davis

First NBC Bank in New Orleans, which has been dealing with issues tied to its tax-credit business and concerns about capital, has removed its chief executive.

Ashton Ryan, who also founded the $4.9 billion-asset company, will remain president. The move took place just two days before the company's rescheduled annual meeting.

Hermann Moyse III was named interim CEO. Moyse, a founding director, has been the chairman of First NBC's bank since September. He previously served in a number of executive posts at City National Bank of Baton Rouge in Louisiana, which was sold to Bank One in 1998. He then helped found Alliance Bank of Baton Rouge, serving on its board until it was bought by Iberiabank in 2004.

The company said that Marsha Crowle, its chief compliance officer, had taken on the added role of interim chief operating officer.

The appointments require regulatory approval.

First NBC said in a press release that the change was made "as part of its ongoing review of management and internal controls" and that it is conducting a search for a permanent CEO and chief operating officer. The search is being led by a structural and organizational committee, formed by the board, along with Chrisman & Co., an executive search firm.

"The leadership transition plan ... is designed to strengthen First NBC's operational foundation as we focus on fortifying the bank's capital position and delivering enhanced shareholder value," Shivan Govindan, First NBC's chairman, said in the release. …

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