After 10 years under the leadership of its founder and CEO, Robert J. Banks, Seminole Financial Services LLC (SFS) has announced new leadership.
On Friday, Banks announced at an internal corporate event that he is stepping away from his role as CEO to assume the title of chairman. He will remain the controlling shareholder of the company. Chris Diaz and Tim Fetter have been named co-CEOs, Ron Campbell has been promoted to chief operating officer (COO) and Kris Dunlop has been promoted to chief financial officer (CFO).
SFS is a provider of debt and tax credit equity financing for renewable energy transactions and of preferred “equity” for multifamily real estate transactions. Since 2009, the firm has committed more than $1.6 billion in construction and permanent debt financing, plus tax credit equity, for more than 250 solar and wind installations throughout the continental U.S. and Hawaii (for the equivalent of over 900 MW in installed capacity).
Diaz previously served as principal/executive vice president of business development at SFS and will maintain those responsibilities in addition to his new role. He is also a corporate shareholder.
Fetter is the former principal/executive vice president of credit and risk management at SFS and will maintain those responsibilities in addition to his new role. He is also a corporate shareholder.
Campbell is the former principal/CFO at SFS and is also a corporate shareholder. Dunlop is the former senior vice president/controller at SFS.
“Chris and Tim have overseen the production and portfolio management sides of the business for several years. Their contributions are the most significant reasons for our achievements over the past decade,” says Banks. “The company is in great hands, and their leadership will sustain the underlying corporate culture we’ve created. I will continue to serve on the investment committee and chair quarterly stockholders meetings. I will also be working on corporate issues outside of day-to-day operations of the company.
“Having co-CEOs will definitely benefit our relatively small, closely knit organization,” he continues. “I’ve worked closely for over 10 years with both new co-CEOs, and I have the utmost respect for their capabilities and their demonstrated leadership. Their respective areas of focus dovetail to form a cohesive direction for SFS, and I’m fully confident that they can work as a team in running the organization while still attending to their primary disciplines.”