First Business Financial Services director Jerry Smith to retire
The Board has elected Gerald Kilcoyne as Chair effective October 26, 2018.
To facilitate this Board Chair transition, Mr. Smith will be entering into a consulting arrangement with the Company following his retirement.
Mr. Smith was Founding CEO of both First Business Bank and its parent holding company and started First Business in Madison in 1990.
Mr. Smith has served as a director of the Company since 1990, and Chair of the Board since July 2006.
Mr. Smith served as Chief Executive Officer from 1990 to December 2006, and served as President of the Company from 1990 to February 2005.
He also served as President and Chief Executive Officer of First Business Bank from 1990 to July 1999, and as Chair of the First Business Bank Board of Directors from April 2001 to December 2003.
Mr. Kilcoyne has served as a director of the holding company since November 2011.
Mr. Kilcoyne is a member of the Audit Committee and the Compensation Committee and previously served as a director and Chair of the First Business Bank Board, as a director of First Business Equipment Finance, LLC, and as a director of Alterra Bank from May 2016 until June 1, 2017 at which time Alterra Bank was consolidated into First Business Bank.
He also served as a director of First Business Capital Corp., a wholly-owned subsidiary of First Business Bank, from January 2006 to December 2013. ■