Customers in Pa. replaces chief risk officer with Capital One executive

Customers Bancorp in West Reading, Pa., which was recently hit with an enforcement action, has a new chief risk officer.

The $21 billion asset company said in a press release that Nick Robinson had taken over the role at its bank. It also created the new position of chief banking officer, which was filled by Lyle Cunningham, who had been chief lending officer and head of specialized banking.

Robinson, who was chief risk officer in Capital One’s commercial division, succeeded Joan Cheney, who is now deputy chief risk officer.

“As we position ourselves for the next stage of our journey, we must remain cognizant of the rapidly evolving environment around us and all its associated risks and opportunities,” Sam Sidhu, the bank’s president and CEO, said in the release.

“We are fortunate to count some of the most talented professionals in the financial services industry among our ranks, and their dedication to delivering exceptional customer service and forward-thinking technological solutions, all with an eye toward prudent risk management, will be key to our continued success,” Sidhu added.

Customers was recently entered into a written agreement with the Federal Reserve that requires it to improve risk management practices for its digital asset strategy, among other things.