Twenty-Five Year Industry Powerhouse Joins Largest Digital Bank in the Country to Oversee Financial Operations
New York, NY, June 06, 2018 (GLOBE NEWSWIRE) -- BankMobile, a division of Customers Bank, and America’s largest and fastest growing mobile-first bank, today announced Paul Young has joined as Chief Financial Officer. Young brings over 25 years of diversified financial services experience to BankMobile. In his new position, he will report to Luvleen Sidhu, Co-Founder, President and Chief Strategy Officer of BankMobile, and oversee the bank’s financial operations including managing all accounting, financial planning and analysis, budgeting and forecasting, treasury and financial reporting functions. Young will also work closely with the senior leadership team to oversee BankMobile’s strategy and vision. He will be based in New York.
“We are delighted to welcome Paul as our Chief Financial Officer,” stated Sidhu. “A veteran of the industry, with experience in strategy, financial operations and risk, Paul will be a great asset to our team. We expect to complete a merger with Flagship Community Bank followed by an IPO this year, and look forward to Paul’s valuable expertise as we reach these new milestones.”
“Under Luvleen’s leadership, BankMobile has grown tremendously in the past three years and I am honored to be joining the company,” stated Young. “The bank is truly transforming the industry and is at the forefront of innovation. I’m excited about this great opportunity to help lead the bank’s continued expansion.”
Prior to his current position at BankMobile, Young served as Senior Vice President, Strategic Initiatives for CIT Bank, N.A. In this role, he provided leadership for large-scale strategic projects across the bank including migrating to one common general ledger, automating the SEC reporting process, and coordinating the assessment and implementation of compliance initiatives including the new revenue recognition, lease accounting and credit losses on financial instruments accounting standards. He was also the Head of CIT’s Finance Academy, where he helped develop a comprehensive training curriculum for all accounting and finance employees in the company.
Previously, Young held various roles at TD Bank including serving as Head of U.S. Strategy and Corporate Development and Chief Financial Officer for TD Bank’s U.S. Lines of Business. He also served on the Board as Treasurer for TD Charitable Foundation. Earlier in his career, Young held various financial leadership positions including CFO of CIT Corporate Finance and SVP & Controller at Siemens Financial Services, North America as well as management roles of increasing responsibility with Prudential Financial, First Fidelity Bank, Spicer & Oppenheim, Phoenixcor Financial Services and Concord Leasing.
Young holds a Bachelor of Science degree in Accounting from Bloomfield College and a Master of Business Administration degree from Temple University’s Fox School of Business. He has also completed Duke University’s Fuqua School of Business Advanced Management Program with Siemens.
Additionally, Young is a Certified Public Accountant, Chartered Global Management Accountant and a member of the Americas Regional Advisory Panel of the American Institute of CPAs. He is also a member of the Accounting Advisory Board and Student Development Committee for Rowan University’s Rohrer College of Business and is an Adjunct Accounting & Finance Professor at Caldwell University.
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Established in 2015, BankMobile, a division of Customers Bank, is America’s largest mobile-first bank, offering fee-free checking and savings accounts. It provides target customers—millennials, the underbanked and middle-income households—with a digital, effortless, and financially empowering experience. In addition to fee-free checking and savings accounts, BankMobile offers lines of credit, joint accounts and access to over 55,000 surcharge-free ATMs nationwide (BankMobile VIP customers have free access to every ATM in the country, which is more than 400,000 ATMs), a guaranteed higher savings rate than the top four banks in the nation, a personal banker for all customers, and a free financial advisor for VIP customers. BankMobile is operating as the digital banking division of Customers Bank, which is a Federal Reserve regulated and FDIC-insured commercial bank. For more information, please visit www.bankmobile.com.