Comment on Longtime First Citizens exec to retire, but won't be replaced

Longtime First Citizens exec to retire, but won't be replaced

A longtime leader at closely-held First Citizens Bank is retiring. Edward Willingham is retiring as chief operating officer at the $37 billion-asset Raleigh bank, effective Dec. 31. And, according to a securities disclosure, the Raleigh bank has no plans to replace him in the C-Suite. “Upon his retirement, the position of Chief Operating Officer will be discontinued with all responsibilities assumed by members of the Executive Leadership Team,” the firm said in a securities filing.

 

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