1st Source Announces the Promotion of Two Senior Leaders
28 Juillet 2021 - 9:00PM
Business Wire
Brett Bauer appointed as Chief Financial
Officer and John Bedient as Chief Operations Officer
Christopher J. Murphy III, Chairman and CEO of 1st Source
Corporation announces the Board of Directors’ promotion of Mr.
Brett Bauer to Chief Financial Officer and Treasurer of 1st Source
Corporation and 1st Source Bank with responsibility for Accounting,
Finance, Asset Liability Management, Treasury Management and
Investor Relations; and that of Mr. John Bedient to Chief
Operations Officer of 1st Source Bank overseeing a new Operations
Group combining both deposit and loan operations. Mr. Murphy states
that “both colleagues were promoted due to their long-term service
and success at 1st Source, as well as their service, dedication and
desire to live the Bank’s values. These new responsibilities
harness the unique capabilities of each for the benefit of the
company, their colleagues, and most importantly, the Bank’s clients
and shareholders.”
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Brett Bauer (Photo: 1st Source
Corporation)
Mr. Bauer has served as Chief Investment Officer since late
2012. In this role he has been responsible for managing 1st
Source’s funding and treasury functions, bank liquidity, municipal
and large CD pricing and services, a $1 billion-plus investment
portfolio, and setting and managing the Bank’s asset liability
policy and approach. He has also played a key role in vetting tax
equity investments in 1st Source’s solar financing business and
recently took over responsibility for the company’s Financial
Analysis unit. He initially joined the Bank as a Corporate Trainee
in 1999 before becoming a Trust Investment Analyst in 2000. Prior
to his tenure with 1st Source, Mr. Bauer joined Bear Stearns Japan
Ltd. in Foreign Securities Operations and later served as a Vice
President in the Government Securities Portfolio Management area
for Bear Stearns. Between the years 2006-2012, he held the roles of
Investment Officer in Funds Management and Manager of Bank
Investment Operations in the Funds Management Division.
Mr. Bauer graduated from the University of Notre Dame with a BS
in Business Administration and Marketing and obtained an MBA from
the University in 2013.
Mr. Murphy adds, “Throughout his career here Brett has lived our
values and exhibited a balanced approach to managing our risks as
well as using a collaborative approach to working with his
colleagues. We know this approach and his dedication will serve him
and our organization well as he enters his new role.”
Mr. Bedient has served as 1st Source’s Group Head of
Administrative Services and Retail Operations since 2018 and has
been a leader in the Bank’s retail and deposit services areas in
various capacities since 2008. He joined the Bank as a Financial
Analyst in Accounting upon completing his undergraduate degree, and
in 1995 became the Assistant Controller in the Specialty Finance
Group (SFG) and was later promoted to Assistant Vice President in
this role. At the end of 1998 Mr. Bedient became a Sales Officer in
SFG, during which time he gained invaluable experience serving
clients and offering a full suite of products and services. In this
role, he learned the importance of having a strong and effective
operations team backing up the Bank’s sales and service officers.
In late 2001, Mr. Bedient was asked to apply his accounting and
analytical skills to the Bank’s securitization funding efforts
dealing with outside investors, credit guarantors, and gain on sale
accounting and reporting. In 2005, he became a key leader in 1st
Source’s core conversion efforts, working with line and staff
leaders across the Bank to install an upgraded and radically
improved core system.
Mr. Bedient is a graduate of Indiana University with a BS in
Finance and a Minor in Economics.
“John has proven his ability to handle complex organizations and
tasks and has the analytical skills to work with his operations
team to find new and better ways to simplify and better automate
our businesses to serve clients well and operate more effectively
and efficiently,” Mr. Murphy continues. “We know he will continue
to apply this approach to his new responsibilities and will
successfully utilize this perspective to best serve our clients and
communities well into the future.”
1st Source Corporation, parent company of 1st Source Bank, has
assets of $7.7 billion and is the largest locally controlled
financial institution headquartered in the northern
Indiana-southwestern Michigan area. The Corporation includes 79
banking centers, 18 1st Source Bank Specialty Finance Group
locations nationwide, nine Trust and Wealth Advisory Services
locations and 10 1st Source Insurance offices. For more than 155
years, 1st Source has been committed to our mission of helping our
clients achieve security, build wealth and realize their dreams.
For more information, visit www.1stsource.com. Member FDIC.
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version on businesswire.com: https://www.businesswire.com/news/home/20210728005935/en/
Lindsey Horner hornerl@1stsource.com 574-235-2506
1st Source (NASDAQ:SRCE)
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