Northwest Bank names Sean Morrow as Interim Treasurer

Rhea-AI Summary

Northwest Bank has appointed Sean Morrow as Interim Treasurer, effective August 23, replacing Jeffrey Maddigan. Morrow, with nearly 20 years of financial experience, will oversee the bank's treasury function, including managing interest rate, liquidity, and capital efforts. He joined Northwest seven years ago and most recently served as assistant treasurer.

CFO Doug Schosser expressed confidence in Morrow's ability to ensure a seamless transition. Morrow holds a bachelor's degree in business administration from SUNY Buffalo and an MBA from St. Bonaventure University. He is actively involved in community organizations, serving on the Board of Directors for Torn Space Theater and the Loan Committee for the Westminster Economic Development Initiative.

Positive

• Appointment of experienced professional Sean Morrow as Interim Treasurer
• Seamless transition expected due to Morrow's seven-year tenure at Northwest Bank
• Morrow's extensive financial background spanning nearly 20 years

Negative

• Departure of Corporate Treasurer and EVP of Finance and Accounting Jeffrey Maddigan

COLUMBUS, Ohio, Aug. 21, 2024 /PRNewswire/ -- Northwest Bank, a full-service financial institution offering a complete line of business and personal banking solutions, has named Sean Morrow as Interim Treasurer effective August 23.

He will replace Corporate Treasurer and EVP of Finance and Accounting Jeffrey Maddigan, who is leaving to pursue an opportunity outside of the bank.

In this role, Morrow will oversee the treasury function, including managing the bank's interest rate, liquidity and capital efforts; managing the securities investment portfolio; facilitating interest rate swaps and ensuring the bank meets its regulatory and risk expectations. 

Morrow brings nearly 20 years of financial experience to this role. A seven-year veteran of Northwest, he joined the bank as treasury risk manager and most recently served as assistant treasurer. He previously worked in various financial roles at KeyBank and First Niagara.

"I'm pleased to name Sean as our interim treasurer," said Chief Financial Officer Doug Schosser. "His depth of industry experience, combined with the expertise he's developed through his close partnership with Jeff, will ensure a seamless transition and help us continue our team's momentum."

"On behalf of the entire bank, we extend our gratitude to Jeff for his exceptional leadership and the substantial contributions he has made for our employees, customers and shareholders," Schosser said. "We wish him all the best in his future pursuits."

Morrow earned his bachelor's degree in business administration from SUNY Buffalo and an MBA from St. Bonaventure University. Active in the community, Sean sits on the Board of Directors for Torn Space Theater and serves as its treasurer. He is also a member of the Loan Committee for the Westminster Economic Development Initiative, an organization that provides micro-loans to underserved residents of Buffalo. He and his wife Katie reside in the Buffalo area. 

About Northwest Bank
Headquartered in Columbus, Ohio, Northwest Bancshares, Inc. is the bank holding company of Northwest Bank. Founded in 1896, Northwest Bank is a full-service financial institution offering a complete line of business and personal banking products, as well as employee benefits and wealth management services. Currently, Northwest operates 131 full-service financial centers and eight free-standing drive-through facilities in Pennsylvania, New York, Ohio and Indiana. Northwest Bancshares, Inc.'s common stock is listed on the NASDAQ Global Select Market ("NWBI"). Additional information regarding Northwest Bancshares, Inc. and Northwest Bank can be accessed online at www.northwest.bank.

View original content to download multimedia:https://www.prnewswire.com/news-releases/northwest-bank-names-sean-morrow-as-interim-treasurer-302227610.html

SOURCE Northwest Bank

FAQ

Who is the new Interim Treasurer of Northwest Bank (NWBI)?

Sean Morrow has been named as the new Interim Treasurer of Northwest Bank, effective August 23, 2024.

What are Sean Morrow's responsibilities as Interim Treasurer at Northwest Bank (NWBI)?

As Interim Treasurer, Sean Morrow will oversee the treasury function, including managing the bank's interest rate, liquidity and capital efforts, managing the securities investment portfolio, facilitating interest rate swaps, and ensuring regulatory and risk compliance.

Why is Northwest Bank (NWBI) appointing a new Interim Treasurer?

Northwest Bank is appointing Sean Morrow as Interim Treasurer to replace Jeffrey Maddigan, who is leaving to pursue an opportunity outside of the bank.

What is Sean Morrow's background and experience at Northwest Bank (NWBI)?

Sean Morrow has been with Northwest Bank for seven years, joining as treasury risk manager and most recently serving as assistant treasurer. He has nearly 20 years of financial experience, including previous roles at KeyBank and First Niagara.