Amalgamated Financial Corp. (NASDAQ:AMAL) ("Amalgamated" or the "Company"), America's socially responsible bank, today named Priscilla Sims Brown its next President and Chief Executive Officer.
Ms. Brown will join Amalgamated on June 1, 2021 from Commonwealth Bank, Australia's largest bank, where she serves as Group Executive, Marketing and Corporate Affairs, with responsibility for end-to-end marketing, branding, stakeholder insights, government and public affairs, and environment and social policy. Through her leadership, Commonwealth Bank bolstered its brand and reputation among all stakeholders and greatly enhanced its value proposition to customers. Ms. Brown has more than 30 years of experience in the financial services industry, having held leadership positions in companies spanning banking, wealth management, retirement, and insurance.
Lynne Fox, Board Chair and Interim President and Chief Executive Officer of Amalgamated, commented, "Priscilla is exactly what we need to take Amalgamated to its next stage, a highly experienced and inspirational leader whose vision aligns perfectly with ours, and we are thrilled that she has agreed to serve as our next CEO. Her track record of success with major national and global financial institutions makes her uniquely qualified to take on this role at this important time in our bank's history and in our society."
"As the nation's socially responsible bank, we believe that a financial institution should use its resources, money and influence to help move its customers, its community, and society forward," Ms. Fox continued. "Thousands of forward-thinking companies, organizations, unions, and individuals choose to bank with us because we not only share and support their financial goals, but because we also support their missions and values. Amalgamated has an incredible opportunity to grow our share of this $90 billion market, and we believe that Priscilla's experience and track record building and growing leading brands in the financial services sector will accelerate our growth strategy and expand our reach in this large and attractive market."
Ms. Brown said, "I have watched Amalgamated become the leading socially responsible bank in America, and I fully embrace their vision to be the bank that furthers economic, social, racial and environmental justice. At a time when consumers and businesses care more than ever how their decisions impact the people and places around them, Amalgamated is ideally situated to become the bank of choice for those who care what good their money does in the world. I believe Amalgamated can achieve significant growth by increasing awareness of the brand it has built over the last 100 years, expanding into new markets across the country, and better serving our loyal customers with products and services that are future fit. I am proud to lead this work alongside the Board of Directors and leadership team to pursue a business strategy that will accelerate Amalgamated's growth and profitability through our mission."
As America's largest B Corp. certified bank, Amalgamated Bank serves thousands of labor unions, nonprofits, social impact enterprises, political organizations, foundations, and individuals that are active, involved, and committed to making our communities stronger, smarter, fairer, cleaner, and safer.