TCF Shuffles Upper Management, Names New CFO

The company says that repositioning some of its top executives will allow it to better manage four key areas-corporate development, enterprise risk management, lending, and funding.

TCF Financial Corporation on Tuesday announced several management transitions that it says will create a better structure for its key initiatives-which it described as corporate development, enterprise risk management, lending, and funding.

The realignment is “consistent with the new marketplace realities that all banks are now facing,” the Wayzata-based bank holding company said.

As part of the shift, Chief Financial Officer (CFO) Thomas F. Jasper will join the company's board and become vice chairman of funding, operations, and finance, effective January 1. In that role, he'll oversee all of TCF's funding capabilities.

Taking over Jasper's spot as CFO is Michael S. Jones-who now serves as executive vice president and CFO of the TCF Equipment Finance unit, which provides financing to small companies for leasing equipment, and executive vice president of Winthrop Resources Corporation, its technology leasing arm.

Additionally, Craig Dahl-a vice president who oversees TCF's Specialty Finance businesses-will assume the new role of vice chairman of lending and join the company's board. According to TCF, he'll oversee all of the company's funding capabilities, including its acquisition of California-based auto lending company Gateway One Lending & Finance, which was announced last week.

Meanwhile, Vice Chairman Barry N. Winslow, who serves as chief risk officer, will take on new responsibilities in corporate development.

“As part of this strategic initiative and based on current market opportunities, including our recent developments, the board and I have concluded we need a dedicated executive management resource working in the corporate development function seeking out opportunities to expand TCF's franchise,” TCF Chairman and CEO William Cooper said in a statement.

Chief Operating Officer Neil W. Brown will assume the position of chief risk officer following Winslow's transition to his new post.

With approximately $18.8 billion in total assets, TCF Financial Corporation-which operates subsidiary TCF National Bank-is among Minnesota's largest bank holding companies. It has 439 banking offices in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona, and South Dakota.