Joe DePaolo, founding CEO of Signature Bank, plans to gradually step back from the New York bank.
The $110 billion-asset bank said in a press release that DePaolo, its president and CEO, will transition to a senior adviser role this year. Eric Howell, Signature’s chief operating officer, will become president on March 1.
Howell will continue to serve as COO.
DePaolo will remain CEO and stay on the board. The bank said Howell will become CEO once DePaolo moves into his advisory role.
The move comes at a time when Signature is scaling back its dealings with cryptocurrency, including a plan to run off billions of dollars of crypto-related deposits.