The Federal Home Loan Bank of Pittsburgh Announces Retirement of Winthrop Watson, President and Chief Executive Officer; Board Appoints David Paulson as Successor
26 Junio 2024 - 7:11AM
Business Wire
Today, the Federal Home Loan Bank of Pittsburgh (FHLBank)
announced the upcoming retirement of Winthrop Watson as President
and Chief Executive Officer (CEO), effective Dec. 31, 2024. Watson
has led FHLBank since 2011 after joining as Chief Operating Officer
(COO) in 2009. Prior to FHLBank, he spent 25 years at J.P.
Morgan.
David G. Paulson, currently COO, has been appointed by FHLBank’s
Board of Directors (Board) as Mr. Watson’s successor. He will
become President and CEO on Dec. 31, 2024.
“We are sincerely grateful for Winthrop’s leadership,” said
Brendan J. McGill, Chair of the FHLBank’s Board, and President and
CEO of Harleysville Bank. "Winthrop has been a strong advocate for
our members as well as our programs to support for affordable
housing and economic development. He has built a legacy of service,
reliability, innovation and trust.”
Under Mr. Watson’s leadership, FHLBank has generated record
earnings and community investment funding for our member
cooperative. His 15-year tenure includes navigating several
national economic challenges, including the fallout of the 2008
financial crisis, and more recently, the staffing and fiscal
volatility caused by the COVID-19 pandemic and the March 2023
banking crisis.
Mr. Watson has also played a significant role within the FHLBank
System – serving twice as Chair of the Bank President’s Conference,
many years as Chair of the Governance Committee of the Federal Home
Loan Banks Office of Finance, and Chair of the Pentegra
Multi-Employer Defined Benefit Pension Plan.
“I’m thankful for the opportunity to fulfill FHLBank’s dual
mission,” said Mr. Watson. “Alongside our dedicated employees, it
has been an honor to serve FHLBank Pittsburgh’s members and their
communities.”
Mr. Paulson assumed the position of COO in January 2020. He
joined FHLBank in 2010, was promoted to Managing Director of
Capital Markets in 2012 and named Chief Financial Officer in
2013.
Alongside Mr. Watson, Mr. Paulson has also worked to support
FHLBank’s mission by focusing on the liquidity needs of members,
while also enhancing FHLBank’s community investment and economic
development initiatives in the cooperative’s three-state footprint:
Delaware, Pennsylvania and West Virginia. During his time as COO,
he has helped to strengthen FHLBank’s balance sheet, capital
position, risk management, community investment impact, and talent
pipeline.
Mr. Paulson has more than 30 years of financial services and
banking experience, primarily in treasury and capital markets
functions. Prior to FHLBank, Paulson held banking and finance roles
across several institutions, with increasing levels of
responsibility.
“We are pleased to have Dave as our incoming President and Chief
Executive Officer,” said Mr. McGill. “His knowledge of FHLBank
Pittsburgh and the FHLBank System will serve our members well.”
“I’m humbled by the opportunity to lead FHLBank as President and
CEO,” said Mr. Paulson. “As I take on this new role, I’m looking
forward to continuing our member-service, community-based
approach.”
About FHLBank Pittsburgh
FHLBank Pittsburgh provides reliable funding and liquidity to
its member financial institutions, which include commercial and
savings banks, community development financial institutions, credit
unions and insurance companies in Delaware, Pennsylvania and West
Virginia. FHLBank products and resources help support community
lending, housing and economic development. As one of 11 Federal
Home Loan Banks established by Congress, FHLBank has been an
integral and reliable part of the financial system since 1932.
Learn more by visiting www.fhlb-pgh.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240625696083/en/
Eric M. Slomer, FHLBank Pittsburgh, 412-288-7694,
eric.slomer@fhlb-pgh.com