VLY

Valley National Bancorp Appoints John P. Regan as Chief Risk Officer

Valley National Bancorp (NASDAQ: VLY) has recently announced the appointment of John P. Regan as the Senior Executive Vice President and Chief Risk Officer, effective June 24, 2024. Regan, a veteran banking industry audit and risk management executive with over 30 years of experience, is set to succeed Raja A. Dakkuri, who is leaving the company to pursue another professional opportunity outside the banking industry.

Regan, who will report directly to Ira Robbins, the Chief Executive Officer and Chairman of Valley National Bancorp, will be responsible for overseeing all aspects of the company's enterprise risk management program. His extensive experience working with regional and global banking organizations has positioned him as the next Chief Risk Officer, bringing valuable perspective to Valley National Bancorp.

Prior to his appointment, Regan served as the Chief Audit Officer for the New York banking operations of Industrial and Commercial Bank of China from 2022 to 2024 and held the position of Chief Audit Executive at Investors Bancorp from 2016 to 2022. His background as a former senior partner of KPMG LLP, where he coordinated KPMG’s New York metro banking audit practice, further strengthens his expertise in the banking and financial industry.

Valley National Bancorp, as the principal subsidiary of Valley National Bancorp, is a regional bank with approximately $61 billion in assets. The bank operates numerous convenient branch locations and commercial banking offices across several states, including New Jersey, New York, Florida, Alabama, California, and Illinois, and is committed to providing convenient service, the latest innovations, and a knowledgeable team dedicated to meeting customer needs.

The appointment of John P. Regan as the new Chief Risk Officer comes as Valley National Bancorp continues to build on its robust risk management framework, fostering a culture of risk awareness and ownership. The company is looking to leverage Regan's experience, leadership capabilities, and strategic vision to contribute to the next phase of its evolution.

The announcement of this new leadership appointment reflects Valley National Bancorp's commitment to upholding its long-standing track record of prudent and responsible risk management while positioning the company for continued success in the future. As a result of these announcements, the company's shares have moved 2.4% on the market, and are now trading at a price of $6.91. For the full picture, make sure to review Valley National Bancorp's 8-K report.

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