Greg Seibly is taking over as CEO of EverBank now that TIAA has sold the online lender to a group of private equity investors.
Seibly — a 35-year banking industry veteran — has been hired to direct the revamped Jacksonville, Florida bank, according to a press release issued by the $1.3 trillion-asset retirement fund TIAA that announced the completion of the sale.
The $36.8 billion-asset bank, which has converted to a national bank from a federal thrift, has been purchased by five private equity firms including Warburg Pincus, which also invested in Banc of California's
The other EverBank buyers include Stone Point Capital, Reverence Capital Partners, Sixth Street and Bayview Asset Management.
EverBank's sale and new ownership structure position the bank for a "new chapter of growth" that will focus on consumer and commercial clients across the country, Seibly said in the release.
Seibly spent the last three years as president and head of regional banking at Union Bank in California. U.S. Bank
Seibly also has been CEO of the Federal Home Loan Bank of San Francisco, president of consumer banking at Umpqua Bank in Portland, Oregon, and CEO of Sterling Financial in Spokane, Washington.
David DePillo, another banking industry veteran, will be EverBank's president. Steve Fischer will be vice chairman after leading EverBank as president and CEO during TIAA's ownership.
TIAA
TIAA's sale of EverBank was conducted "from a position of strength" that will provide TIAA's clients with a "secure retirement" for its clients, David Nason, TIAA's chief operating officer and president of its wealth management group, said in the statement.
TIAA and the investor group will maintain noncontrolling interests in EverBank. Additional details about the transaction were not disclosed.
