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- FHLBank Pittsburgh Announces CEO Transition: Watson to Retire, Paulson Appointed Successor
FHLBank Pittsburgh Announces CEO Transition: Watson to Retire, Paulson Appointed Successor
Slice of Finance Team
03 Jul
Key Highlights:
Winthrop Watson to retire as President and CEO effective Dec. 31, 2024.
David G. Paulson appointed as successor by FHLBank’s Board.
Watson led FHLBank since 2011, joined as COO in 2009.
Paulson, current COO, to assume new role on Dec. 31, 2024.
FHLBank Pittsburgh supports financial institutions in Delaware, Pennsylvania, and West Virginia.
Source (Business Wire)
Notable Quotes:
“We are sincerely grateful for Winthrop’s leadership. Winthrop has been a strong advocate for our members as well as our programs to support for affordable housing and economic development. He has built a legacy of service, reliability, innovation and trust. We are pleased to have Dave as our incoming President and Chief Executive Officer. His knowledge of FHLBank Pittsburgh and the FHLBank System will serve our members well.”
“I’m thankful for the opportunity to fulfill FHLBank’s dual mission. Alongside our dedicated employees, it has been an honor to serve FHLBank Pittsburgh’s members and their communities.”
Our Take:
The announcement of Winthrop Watson's retirement marks the end of a significant era for FHLBank Pittsburgh. Watson’s 15-year tenure was characterized by resilience and strategic growth, navigating multiple economic challenges while bolstering community investment. His leadership has not only ensured record earnings but also strengthened the cooperative's commitment to affordable housing and economic development. David G. Paulson’s appointment as the next President and CEO is a testament to the Board’s confidence in his extensive experience and proven track record within the organization. Paulson’s deep understanding of FHLBank’s operations and his focus on liquidity, community investment, and economic development initiatives position him well to continue the legacy of stability and growth. This transition reflects FHLBank Pittsburgh’s strategic foresight and commitment to maintaining robust leadership in support of its members.