BankUnited (OTC: BKUNQ) Names Douglas Pauls as CFO
Buffalo, New York 9/01/2009 03:22 PM GMT (TransWorldNews)
BankUnited Financial (OTC: BKUNQ)
said Monday it has named Douglas J. Pauls as chief financial officer.
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BankUnited, the largest bank
headquarted in Florida, closed in May with $13 billion in assets and
then was sold for $900 million to a group of private-equity investors,
including the firm run by billionaire investor Wilbur Ross.
The expected hit to the Federal
Deposit Insurance Corp.'s insurance fund from BankUnited's failure is an
estimated $4.9 billion.
Pauls, who also was named a senior
vice president of BankUnited, was recently chief financial officer of Commerce
Bancorp, which was bought by TD Bank Financial Group (NYSE: TD) in March of
last year. During his 15-year tenure Commerce grew from $2 billion to $50
billion in assets. Pauls was involved in multiple acquisitions and public
offerings.
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