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Carver Bancorp Announces Executive Management Team Changes

Stocks in this article: CARV

The Carver Board of Directors has appointed David Toner, CPA, Senior Vice President and Controller for the past four years, as Acting Chief Financial Officer, effective February 15, 2013. Mr. Toner joined Carver in 2009 after more than 20 years with Citigroup in various financial control positions in the United States and Europe, including serving as Chief Financial Officer of Citigroup's Community Development business from 2004 through 2007. Prior to joining Citigroup in 1987, Mr. Toner held various audit positions with Deloitte & Touche (formerly Deloitte, Haskins & Sells).

Carver noted several additional executive management appointments:

  • Alfredo Assad, most recently a consultant assisting Carver in rebuilding its Lending Department, has been appointed Acting Chief Lending Officer. Mr. Assad brings over 24 years of experience in lending. Prior to joining Carver, he was a Director and the President of New York National Bank, a 25 year-old community bank based in the Bronx, NY, with approximately $150 million in assets. Mr. Assad has also held lending, risk management, and treasury positions at Banco Popular North America, Credit Communal de Belgique and M&T Bank. Mr. Assad earned a B.A. in Economics from Harvard University and a M.B.A. from Columbia University.  
  • James A. Raborn, most recently Senior Vice President, Loan Workout Officer, has been named General Counsel. Mr. Raborn joined Carver in April 2011 from Emigrant Bank where he served as First Vice President and Director of Foreclosure/Real Estate Owned for approximately four years. Previously, Mr. Raborn practiced law for more than 15 years at Riker Danzig Scherer Hyland & Perretti LLP and Norris McLaughlin & Marcus. He earned a B.A. in History and Political Science from Tulane University and a J.D. from Rutgers University. Mr. Raborn is a member of the New Jersey and Pennsylvania state bar associations.  
  • John Spencer, most recently Chief Retail Officer, has been appointed Chief of Operations, which includes oversight of Retail Operations and Branch Administration, Information Technology, and Facilities. Mr. Spencer will be leading the anticipated conversion of the Bank's core technology platform in 2013. Mr. Spencer joined Carver in 2009 as Senior Vice President and Chief Retail Officer, after 22 years at JPMorgan Chase & Co. where he held several management positions in retail sales/customer service, audit, and operations management.  Additionally, he served as a Branch Administration Executive for Chase's Retail Division, supporting a network with 700 branches, and over $50 billion in deposits.  He earned a B.A. in Banking and Finance from Pace University.

These executive management changes are subject to regulatory approval.

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