Customers Bank Hires Bernard Garrigues as Chief People Officer to Support Ambitious Growth

Rhea-AI Summary

Customers Bank, a top 100 digital bank with nearly $20 billion in assets, has appointed Bernard Garrigues as its new Chief People Officer. This strategic move aims to bolster the leadership team and support the bank's national growth. Garrigues brings extensive HR leadership experience from companies like Webster Bank and GE Healthcare. He will oversee initiatives in human resources and cultural strategy, focusing on diversity and inclusion to enhance team engagement. In 2021, Customers Bank reported a 153% increase in net income compared to 2020, highlighting its rapid growth.

Positive

• Appointment of Bernard Garrigues as Chief People Officer to enhance HR initiatives.
• Garrigues has extensive experience in HR leadership within financial services.
• 2021 net income increased by 153% compared to 2020, indicating strong financial performance.

Negative

• Potential concerns regarding continuity and experience gaps in leadership transition.

WEST READING, Pa.--(BUSINESS WIRE)-- Customers Bank, a digital and fintech-forward top 100 bank in the nation with nearly $20 billion in assets, announced it hired Bernard Garrigues as Chief People Officer (CPO) to strengthen the leadership team and support the institution’s continued national growth.

Bernard Garrigues , new Chief People Officer, Customers Bank (Photo: Business Wire)

Garrigues will lead human resources and cultural strategy by developing and executing initiatives to support the organization’s overall business plan and strategic direction, including compensation, succession planning, talent management, change management, organizational and performance management, training and development, and more. As CPO, Garrigues will provide overarching leadership by articulating HR strategy and plans to the executive management team, board of directors, and shareholders.

“Bernard will be a key driver in furthering our ‘Best in Class’ HR initiatives matching our programs to our culture, vision and values,” stated Sam Sidhu, President and Chief Executive Officer of Customers Bank. “The leadership team is looking forward to Bernard’s focus on diversity and inclusion to advance the growth of our talented team members as we continue to enter new markets and launch innovative products and services.”

“I’m thrilled to be joining a fast-growing, innovative organization at the crossroads of technology and banking. I am very impressed by the team, and the vibrant, entrepreneurial culture of radical candor and customer centricity,” said Garrigues. “Excited to be a part of this transformation journey!”

Garrigues brings a wealth of HR leadership experience to Customers Bank, with the majority of that expertise developed within the financial services sector. Most recently, he served as Executive Vice President and Chief Human Resources Officer at Webster Bank. Previously, Garrigues held similar positions with Timex Group, GE Healthcare, GE Capital and other leading organizations.

Garrigues commented, “As the new Chief People Officer, I’m focused on building best-in-class team member experiences, empowering team members and driving a diverse, inclusive culture that delivers higher team engagement and business growth. A great place to work!”

Customers Bank has enjoyed rapid growth and success in recent years with full year 2021 net income up 153% over full year 2020. The bank recently introduced new commercial banking groups that serve the financial services sector, including the Fund Finance Group, the Technology and Venture Banking Group and the Broker Dealer Group. Over the last several months, the bank introduced new commercial banking teams in Dallas, Orlando, the Carolinas, South Central Pennsylvania and expanded its presence in Chicago. Earlier this year, Customers Bank announced the expansion of its Digital Asset Banking Group that services a variety of clients, including cryptocurrency and digital asset institutions utilizing the bank’s branded Customers Bank Instant Token (CBIT^TM), to facilitate real time payments and ‘on and off’ ramps to fiat currency.

To learn more about Customers Bank and its products and services, visit www.customersbank.com.

About Customers Bank

Customers Bank is a full-service bank with $19.6 billion in assets at December 31, 2021, and a wholly owned subsidiary of Customers Bancorp, Inc. (NYSE:CUBI). A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals, and families. Services and products are available wherever permitted by law through mobile-first apps, online portals, and a network of offices and branches. Customers Bank provides blockchain-based digital payments via the Customers Bank Instant Token (CBIT^TM) which allows clients to make real-time payments in US dollars, 24 hours a day, 7 days a week, 365 days a year. More at www.customersbank.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220308006450/en/

David W. Patti

Communications Director

610-451-9452

Source: Customers Bank

FAQ

Who is the new Chief People Officer of Customers Bank?

Bernard Garrigues has been appointed as the new Chief People Officer of Customers Bank.

What experience does Bernard Garrigues bring to Customers Bank?

Garrigues brings significant HR leadership experience from financial institutions such as Webster Bank and GE Healthcare.

How has Customers Bank performed financially in recent years?

Customers Bank reported a 153% increase in net income in 2021 compared to 2020, reflecting rapid growth.

What initiatives will Bernard Garrigues focus on as CPO?

Garrigues will focus on diversity and inclusion, talent management, and aligning HR strategies with the bank's vision.