- Push-out Score determined
- After almost eight years in the position
- Praise for Paracchini
- Roberto Herencia taking over
- Paracchini will remain as President at Byline
- Paracchini made a lengthy statement and said 296 words
(exechange) — Chicago, Illinois, January 28, 2021 — Alberto Paracchini, chief executive of Byline, leaves his position. As announced by Byline Bancorp Inc. in a news release and in a regulatory filing published on Thursday, January 28, 2021, Alberto J. Paracchini leaves his post as chief executive officer of the parent company of Byline Bank after almost eight years in the role, effective February 12, 2021.
Alberto Paracchini’s duties as CEO will be taken over by Roberto R. Herencia, currently Chairman of Byline Bancorp Inc.
“To accelerate and support the execution of the Company’s strategic plan”
Alberto Paracchini’s departure from the CEO post is explained as follows. Byline said: “The changes are intended to accelerate and support the execution of the Company’s strategic plan, specifically its growth strategy, as a leading commercial bank in the Chicago MSA.”
Paracchini will remain as President at Byline
“Alberto J. Paracchini will continue in his role as President of Byline Bancorp, Inc. Mr. Paracchini will also continue in his role as President and Chief Executive Officer of Byline Bank, reporting directly to Mr. Herencia, and remains a director of Byline Bancorp, Inc. and Byline Bank,” Byline said.
Share price decline since January 2018
The announcement follows a decline in Byline Bancorp Inc.’s share price of 36% since January 2018.
In the position of CEO since 2013
Alberto Paracchini became CEO of the Company in 2013.
Alberto J. Paracchini has served as President, Chief Executive Officer and Director of Byline Bancorp, Inc. and Byline Bank since June 2013.
Paracchini also serves as a member of the executive credit and ALCO committees of Byline Bank.
Prior to joining Byline, Paracchini served as Principal for BXM Holdings, Inc., an investment fund specializing in community bank investments, from October 2010 to June 2013 and spent 16 years at Popular, Inc., where he held numerous leadership positions in both its banking and mortgage subsidiaries.
From January 2010 through May 2010, Paracchini was Executive Vice President at Midwest Bank & Trust.
From 2006 through 2008, Paracchini served as President and Chief Financial Officer of Popular Financial Holdings and Chief Financial Officer of E-Loan, an internet banking and mortgage company.
Prior to 2006, Paracchini spent 13 years at Banco Popular North America, where he held several senior leadership roles including Chief Financial Officer, Treasurer and the head of all operations and technology functions.
Paracchini is a member of the Cook County Council of Economic Advisors and Economic Club of Chicago, and a member of the Board of Junior Achievement.
Paracchini holds a bachelor’s degree from Marquette University and an M.B.A. from the University of Chicago Booth School of Business.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Alberto Paracchini’s move on a scale of 0 to 10.
exechange reached out to Byline and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 5.2021 ($).
