Appoints David Burg as Executive Vice
President, Chief Financial Officer; Promotes Arthur J. Bacci
to Executive Vice President, Chief Operating Officer and
Jamie P. Hopkins to Executive Vice President, Chief Wealth
Officer
WSFS Financial Corporation (Nasdaq: WSFS), the parent company of
WSFS Bank, announced today that David Burg will join the Company as
Executive Vice President, Chief Financial Officer on August 15,
2024. In this role, Burg will be responsible for leading the
Company's financial operations and strategy, including Financial
Planning and Analysis, Accounting and Financial Reporting,
Treasury, and Investor Relations.
Prior to joining WSFS, Burg held several senior leadership
positions during his nearly 17 years at Citigroup. Most recently,
he was the Head of Strategy and Execution for Legacy Franchises.
From 2021 to 2023, he was Chief Financial Officer for the entire
Latin America region. Burg also served as the Chief Financial
Officer of Citigroup’s Treasury & Trade Solutions from 2017 to
2021. In these roles, he was responsible for financial reporting,
financial planning and analysis, treasury management and strategy.
Earlier in his career, Burg was a Managing Director in the
Corporate Mergers & Acquisitions Group at Citigroup. He also
held roles at McKinsey & Company and General Electric.
WSFS also announced that Arthur J. Bacci will assume the role of
Executive Vice President, Chief Operating Officer, coincidental
with the appointment of Burg as CFO. Bacci joined WSFS in April
2018 as Executive Vice President, Chief Wealth Officer. In addition
to serving as Chief Wealth Officer, he has held the role of interim
Chief Financial Officer since August 2023. In his new role as Chief
Operating Officer, Bacci will have oversight responsibilities for
the Commercial, Wealth, Consumer and Cash Connect lines of
business, as well as Technology, Operations, Customer Experience,
Marketing and Communications.
As part of WSFS’ on-going succession planning, in conjunction
with Bacci’s appointment to Chief Operating Officer, Jamie P.
Hopkins will be elevated to the role of Executive Vice President,
Chief Wealth Officer. Hopkins joined WSFS in October 2023 as Senior
Vice President and Director of Private Wealth Management. As Chief
Wealth Officer, Hopkins will lead WSFS’ Wealth Management segment
which includes Bryn Mawr Trust®, Bryn Mawr Capital Management, LLC,
The Bryn Mawr Trust Company of Delaware, Powdermill® Financial
Solutions, WSFS Institutional Services®, WSFS Wealth® Investments,
and WSFS Private Banking.
“David’s expertise and visionary approach to financial strategy
are exactly what we need as we accelerate our growth,” said Rodger
Levenson, Chairman, President and CEO. “His proven leadership,
strategic decisioning and commitment to culture will play an
instrumental role in our continued drive to deliver superior value
for our stakeholders. Additionally, the promotions of Art and Jamie
strengthen our leadership team consistent with our commitment to
long-term talent development.”
Burg holds an MBA in Finance from Columbia Business School, as
well as an M.S. in Materials Science and Engineering from Columbia
University. He earned his B.S. in Applied Science and Engineering
from Rutgers University.
About WSFS Financial Corporation WSFS Financial
Corporation is a multibillion-dollar financial services company.
Its primary subsidiary, WSFS Bank, is the oldest and largest
locally headquartered bank and trust company in the Greater
Philadelphia and Delaware region. As of March 31, 2024, WSFS
Financial Corporation had $20.6 billion in assets on its balance
sheet and $80.5 billion in assets under management and
administration. WSFS operates from 114 offices, 88 of which are
banking offices, located in Pennsylvania (57), Delaware (40), New
Jersey (14), Florida (1), Nevada (1) and Virginia (1) and provides
comprehensive financial services including commercial banking,
consumer banking, treasury management and trust and wealth
management. Other subsidiaries or divisions include Arrow Land
Transfer, Bryn Mawr Capital Management, LLC, Bryn Mawr Trust®, The
Bryn Mawr Trust Company of Delaware, Cash Connect®, NewLane
Finance®, Powdermill® Financial Solutions, WSFS Institutional
Services®, WSFS Mortgage®, and WSFS Wealth® Investments. Serving
the Greater Delaware Valley since 1832, WSFS Bank is one of the ten
oldest banks in the United States continuously operating under the
same name. For more information, please visit www.wsfsbank.com.
Forward-Looking Statements This press release contains
estimates, predictions, opinions, projections and other
“forward-looking statements” as that phrase is defined in the
Private Securities Litigation Reform Act of 1995. Such statements
include, without limitation, references to WSFS’ predictions or
expectations of future business or financial performance as well as
its goals and objectives for future operations, financial and
business trends, business prospects, and management’s outlook or
expectations for earnings, revenues, expenses, capital levels,
liquidity levels, asset quality or other future financial or
business performance, strategies or expectations. The words “will,”
“believe,” “expect,” “anticipate,” “plan,” “estimate,” “threshold,”
“target,” “stretch,” “project” and similar expressions, among
others, generally identify forward-looking statements. Such
forward-looking statements are based on various assumptions (some
of which may be beyond WSFS’ control) and are subject to risks and
uncertainties (which change over time) and other factors which
could cause actual results to differ materially from those
currently anticipated. Such risks and uncertainties include, but
are not limited to, those discussed in WSFS’ Annual Report on Form
10-K for the year ended December 31, 2023 and other documents filed
by WSFS with the U.S. Securities and Exchange Commission from time
to time.
WSFS cautions readers not to place undue reliance on any such
forward-looking statements, which speak only as of the date on
which they are made, and WSFS disclaims any duty to revise or
update any forward-looking statement, whether written or oral, that
may be made from time to time by or on behalf of WSFS for any
reason, except as specifically required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240521221518/en/
Investor Relations Contact: Andrew Basile (302) 504-9857;
abasile@wsfsbank.com Media Contact: Kyle Babcock (215) 864-1795;
kbabcock@wsfsbank.com
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