LANCASTER, PA — Fulton Financial Corporation (Nasdaq: FULT) has announced significant changes to its top executive ranks following the recent resignation of Chief Financial Officer Mark McCollom. Betsy Chivinski, previously serving as the Chief Risk Officer, has been named Interim Chief Financial Officer. Meanwhile, Atul Malhotra has been promoted to fill Chivinski’s previous role as Chief Risk Officer.
Chivinski, who boasts over four decades of experience in the financial services sector, is set to guide the corporation’s financial governance until a permanent CFO is appointed. She will continue to report directly to Chairman and CEO Curt Myers.
“Betsy’s vast industry experience, her intimate knowledge of Fulton, and her proven leadership abilities make her the ideal candidate to steer our financial team during this period of transition,” said Myers. “Her strong accounting background will be invaluable as we begin our search for a new CFO.”
Chivinski’s career at Fulton spans nearly three decades, during which she has served in various leadership roles. Since 2016, she has been the Senior Executive Vice President and Chief Risk Officer. Prior to that, she served as the chief accounting officer and chief audit executive. Before joining Fulton, Chivinski held a senior managerial position at Arthur Andersen & Co. She is a Franklin & Marshall College alumna, holding a Bachelor of Arts degree in Accounting.
On the other hand, Malhotra, the newly appointed Chief Risk Officer, will be responsible for overseeing the bank’s risk management programs. He brings over two decades of experience in corporate governance, risk management, and regulatory strategy.
“Atul is a seasoned risk management executive whose deep understanding of the financial services industry will be instrumental in maintaining and enhancing our risk management framework,” Myers said. “I’m confident he will make a vital contribution to Fulton’s enterprise leadership team.”
Malhotra previously served as the managing director of enterprise risk management at Fulton. Before that, he worked as a regulatory and risk strategy consultant for various publicly traded companies, including large, global financial institutions. Malhotra holds a Bachelor of Arts in Business Administration and Computer Science from Franklin & Marshall College. He has also earned several certifications, including Certified in Risk and Information Systems Controls (CRISC) and Certified in Risk Management Assurance (CRMA). Additionally, Malhotra is a graduate of the ABA Stonier Graduate School of Banking.
The executive changes come at a pivotal time for Fulton Financial, which, like many organizations, is navigating a complex economic landscape. The bank will be relying on the experience and expertise of Chivinski and Malhotra to guide it through this period of transition. These appointments underscore the bank’s commitment to strong corporate governance and risk management – two pillars that are crucial for its long-term success.
While the search for a new CFO is underway, investors and market watchers will be keen to see how these executive changes impact Fulton Financial’s operations and performance in the coming months.
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