Kozlowski Takes Reins at The Bancorp
The board of directors of The Bancorp Inc. and The Bancorp Bank has appointed Damian Kozlowski to leadership roles with both entities. Kozlowski will become CEO of The Bancorp and president of The Bancorp Bank, effective June 1, 2016. He also will serve as director of both units.
Kozlowski has served since 2010 as CEO, president and director of Modern Bank, a New York City-based private bank. Previously, he was chairman and CEO of Alpha Capital Financial Group from 2007 to 2010, and prior to that worked for Citigroup Private Bank in several executive-level positions. While at Citigroup, Kozlowski was ranking business leader on the firm’s Global Anti-Money Laundering Council.
“The Bancorp is on an exciting trajectory that will now be further fueled by Damian’s exceptional track record. We welcome his leadership in shaping and bringing The Bancorp’s strategic vision to fruition,” said Jeremy Kuiper, managing director of payment solutions, The Bancorp’s largest division. Kozlowski succeeds Interim CEO John Chrystal, who will remain a director of the company and the bank.
Earlier this month, The Bancorp reported financial results for the first quarter of 2016. The company’s net income increased 24 percent, to $20.6 million, from $16.5 million in the first quarter of 2015. Prepaid card fee income ticked up 3.4 percent, to $13.6 million for the quarter, which ended March 31.