Valley National Bancorp Announces Departure of Senior Executive Vice President and Chief Financial Officer

Valley National Bancorp, a financial institution based in New Jersey, disclosed in an 8-K filing released on October 30, 2024, that Michael Hagedorn will be stepping down from his position as Senior Executive Vice President and Chief Financial Officer of the company. His departure is scheduled to take effect on November 30, 2024.

Mr. Hagedorn, who has served in this capacity, will continue to work with the company until his exit date to ensure a smooth transition. The separation has been clarified not to stem from any disagreements between Mr. Hagedorn and the company’s management or board of directors.

In response to this change, Valley National Bancorp intends to commence a search for a replacement CFO, considering both internal and external candidates. It is anticipated that Mr. Hagedorn will engage in a separation agreement with the company at a later stage.

To ensure the continuity of financial leadership, Travis Lan, the current Executive Vice President and Deputy Chief Financial Officer, will assume the role of interim Chief Financial Officer upon Mr. Hagedorn’s departure. Mr. Lan, aged 40, joined the company in February 2020 and has held various significant roles within the financial divisions of the organization.

Before his tenure at Valley National Bancorp, Mr. Lan worked as a Director in the Investment Banking Department of Keefe, Bruyette & Woods, Inc. for several years. With a background as an equity research analyst covering community and regional banks, Mr. Lan brings substantial expertise to his new role as interim CFO.

The filing further emphasizes that Mr. Lan currently does not possess any direct or indirect material interest in transactions needing disclosure under Regulation S-K. Additionally, there are no existing agreements or understandings that led to his selection as the interim Chief Financial Officer of Valley National Bancorp.

The 8-K SEC filing was signed by Gary G. Michael, Executive Vice President, General Counsel, and Corporate Secretary on behalf of Valley National Bancorp on October 30, 2024. The company is taking strategic steps to fill the upcoming vacancy in its key financial leadership position.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Valley National Bancorp’s 8K filing here.

Valley National Bancorp Company Profile

Valley National Bancorp operates as the holding company for Valley National Bank that provides various commercial, private banking, retail, insurance, and wealth management financial services products. It operates through Consumer Banking, Commercial Banking, and Treasury and Corporate other segments.