-- Rajinder P. Singh to Become President and CEO effective January 1,
2017
-- John A. Kanas to Continue to Serve as Chairman of the Board of
Directors
-- Thomas M. Cornish to Become Chief Operating Officer effective
January 1, 2017
MIAMI LAKES, Fla.--(BUSINESS WIRE)--Aug. 31, 2016--
BankUnited, Inc. (the “Company”) (NYSE: BKU) today announced that
Rajinder P. Singh, the Company’s Chief Operating Officer, will succeed
John A. Kanas, the Company’s Chairman, President and Chief Executive
Officer, as President and CEO effective January 1, 2017. Mr. Kanas will
continue to serve as Chairman of the Board of Directors.
Mr. Singh, along with Mr. Kanas, was one of the founding organizers of
the Company in 2009, and has been instrumental in driving the turnaround
and growth of the Company.
“Raj has been a proven partner of mine and I am excited about and proud
to see him step into his new role,” said Mr. Kanas. “With his
operational and managerial skills, strategic vision and dedication, he
is the ideal person to be at the helm of this company. Under Raj’s
leadership, BankUnited will continue to build upon its reputation as a
premier financial institution.”
Mr. Singh commented, “I am honored to assume the role of President and
Chief Executive Officer in 2017. I look forward to working closely with
the Board, our senior management team and our dedicated and hard-working
employees as we continue to execute the strategy that has been
instrumental to the Company’s success over the last several years,
building a growing, profitable, safe and sound institution.”
Replacing Mr. Singh as Chief Operating Officer will be Thomas M.
Cornish, who currently serves as the bank’s President, Florida region.
Mr. Cornish joined the bank in 2014 and in his new role will directly
report to Mr. Singh.
“In a short amount of time, Tom has raised the caliber of our Florida
franchise.” said Mr. Singh. “I am confident in Tom’s ability to excel in
his expanded role.”
About Rajinder P. Singh
Rajinder P. Singh has served on our Board since July 2013
and is currently our Chief Operating Officer, and one of the founding
organizers of our Company. Mr. Singh has been our Chief Operating
Officer since October 2010, and prior to that, he served as our Head of
Mortgage Banking and Corporate Development since May 2009. Mr. Singh
also served as Corporate Secretary of the Company from May 2009 to June
2013.
From April 2008 to May 2009, Mr. Singh led the financial services
practice of WL Ross & Co., a private equity firm and one of the original
investors in the Company. From December 2006 through April 2008, Mr.
Singh served as Executive Vice President for Capital One's banking
segment which includes retail, small business and commercial banking
businesses in New York, New Jersey, Connecticut, Louisiana and Texas and
a national direct deposit gathering franchise. Previously, Mr. Singh
served as Head of Corporate Strategy and Development for North Fork from
February 2005 to December 2006. During his tenure, North Fork was
acquired by Capital One for $13.2 billion. Prior to joining North Fork
in February 2005, Mr. Singh spent nine years at FleetBoston Financial
Corporation and last served as Managing Director of Corporate Strategy
and Development.
Mr. Singh earned his M.B.A. from Carnegie Mellon University in
Pittsburgh and his B.S. in chemical engineering from the Indian
Institute of Technology in New Delhi.
About Thomas M. Cornish
Thomas M. Cornish has been BankUnited N.A.’s President, Florida Region
since March 2014. In his role as President, Florida Region, Mr. Cornish
is responsible for retail and commercial banking services in the state.
From 2004 to March 2014, Mr. Cornish served as President and CEO of
Marsh & McLennan Agency, Florida Region. Prior to that, he held several
senior leadership positions with SunTrust Bank from 1983 through 2003.
While with Marsh & McLennan Agency, Mr. Cornish was recognized with
honors as "Miami's CEO of the Year" by the South Florida Business
Journal and the "Ultimate CEO" by Business Leader Magazine. Mr. Cornish
was also elected to the Florida International University School of
Business Hall of Fame in 2013. Mr. Cornish currently serves as the
chairman of the Florida International University Foundation Board of
Directors. He is also the chairman of the FIU Wolfsonian Museum and
Chairman of the Board of the Miami Children’s Hospital Foundation. Mr.
Cornish is a past chairman of the Beacon Council and Assurex Global
Corporation. He is a past board member of the Camillus House, The
Chapman Partnership and past member of the Orange Bowl committee.
Mr.Cornish earned his B.A. degree from Florida International University.
About BankUnited, Inc.
BankUnited, Inc., with total assets of $26.3 billion at June 30, 2016,
is the bank holding company of BankUnited, N.A., a national bank
headquartered in Miami Lakes, Florida with 95 branches in 15 Florida
counties and 6 banking centers in the New York metropolitan area at June
30, 2016.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that
reflect the Company’s current views with respect to, among other things,
future events and financial performance.
The Company generally identifies forward-looking statements by
terminology such as “outlook,” “believes,” “expects,” “potential,”
“continues,” “may,” “will,” “could,” “should,” “seeks,” “approximately,”
“predicts,” “intends,” “plans,” “estimates,” “anticipates” or the
negative version of those words or other comparable words. Any
forward-looking statements contained in this press release are based on
the historical performance of the Company and its subsidiaries or on the
Company’s current plans, estimates and expectations. The inclusion of
this forward-looking information should not be regarded as a
representation by the Company that the future plans, estimates or
expectations contemplated by the Company will be achieved. Such
forward-looking statements are subject to various risks and
uncertainties and assumptions relating to the Company’s operations,
financial results, financial condition, business prospects, growth
strategy and liquidity. If one or more of these or other risks or
uncertainties materialize, or if the Company’s underlying assumptions
prove to be incorrect, the Company’s actual results may vary materially
from those indicated in these statements. These factors should not be
construed as exhaustive. The Company does not undertake any obligation
to publicly update or review any forward-looking statement, whether as a
result of new information, future developments or otherwise. A number of
important factors could cause actual results to differ materially from
those indicated by the forward-looking statements. Information on these
factors can be found in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2015 available at the SEC’s website (www.sec.gov).
View source version on businesswire.com: http://www.businesswire.com/news/home/20160831006405/en/
Source: BankUnited, Inc.
BankUnited, Inc.
Investor Relations:
Leslie N. Lunak,
786-313-1698
llunak@bankunited.com
or
Media
Relations:
Mary Harris, 305-817-8117
mharris@bankunited.com