EagleBank Taps Dan Bostwick & Bob Wallace to Lead New Expatriate Banking Services Division
EagleBank (NASDAQ: EGBN) announced the formation of a new Expatriate Banking Services division, appointing Dan Bostwick and Bob Wallace as leaders.
This initiative aligns with EagleBank's growth strategy, including recent expansions in consumer business and digital banking.
Bostwick and Wallace bring over 20 years of experience in expatriate banking, focusing on building relationships with global corporations and relocation service providers.
The division aims to provide comprehensive financial services to corporate transferees in the U.S. This includes setting up bank accounts, granting access to credit, and other services to facilitate smooth transitions for expatriates.
- EagleBank expands its services with a new Expatriate Banking Services division.
- Dan Bostwick and Bob Wallace bring over 20 years of experience in expatriate banking.
- The initiative aligns with EagleBank's long-term growth strategy.
- The division aims to build relationships with global corporations and relocation service providers.
- Financial services for expatriates include domestic bank accounts, credit access, and bill pay services.
- The announcement lacks specific financial projections or targets for the new division.
- Potential challenges in onboarding expatriates and ensuring compliance with U.S. banking regulations.
- No immediate impact on revenue or profitability mentioned.
BETHESDA, Md., June 18, 2024 (GLOBE NEWSWIRE) -- EagleBank (NASDAQ: EGBN), one of the largest community banks in the Washington, D.C. area, today announced it has onboarded Dan Bostwick and Bob Wallace to lead the Expatriate Banking Services division. This new division aims to meet a strong demand for these services and builds upon EagleBank’s long-term growth strategy, including its recently launched consumer business expansion and digital banking platform.
Dan Bostwick and Bob Wallace joined EagleBank with over 20 years of experience each in Expatriate Banking Services. In their roles, they focus on building and strengthening relationships with global corporations and relocation service providers.
“As EagleBank continues to enhance and diversify its business model, the Expatriate Banking Services division is an important growth opportunity for the Bank,” said Karen Buck, Executive Vice President and Chief Administrative Officer of EagleBank. “We are excited to bring Dan and Bob onto the EagleBank team and look forward to their leadership in assisting new clients as they live and work in the United States.”
EagleBank’s Expatriate Banking Services provides financial services to corporate transferees who are new to the United States and on a long-term assignment with a global company. Services include setting up foreign nationals with domestic bank accounts, access to credit, bill pay, and more. The Bank and this division, headed by Bostwick and Wallace, will work directly with institutions to set up transferees with the necessary financial accounts for a seamless transition.
About Eagle Bancorp, Inc. and EagleBank
Eagle Bancorp, Inc. is the holding company for EagleBank, which commenced operations in 1998. EagleBank is headquartered in Bethesda, Maryland, and conducts full service commercial banking through 12 offices, located in Suburban, Maryland, Washington, D.C. and Northern Virginia. EagleBank focuses on building relationships with businesses, professionals and individuals in its marketplace.
EagleBank Contact:
media@EagleBankCorp.com
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