Live Oak Bancshares in Wilmington, N.C., has hired the former chief financial officer at First Horizon to fill the same role.
The $8.4 billion-asset Live Oak said in a press release Wednesday that B.J. Losch will also become CFO of its bank on Sept. 1. Losch will be responsible for the overall financial management of the company and will oversee strategy and corporate development, including strategic oversight of Live Oak Ventures.
Losch, who will join Live Oak on Aug. 1, will succeed Brett Caines, who will remain at the company in a senior position to focus on strategic development goals.
“We have had the privilege of creating an exceptional team here at Live Oak and having B.J. join us adds another layer of remarkable talent to our organization,” Chip Mahan, Live Oak’s chairman and CEO, said in the release.
Losch has spent 12 years as CFO at First Horizon. Before that, he held senior roles at First Union and Wachovia.
First Horizon named Anthony Restel interim CFO, succeeding Losch. Restel was CFO at Iberiabank, which was sold to First Horizon last year.