BankUnited announced Jay Richards has succeeded Mark Bagnoli as Chief Risk Officer. Richards, who most recently served as Chief Credit Officer, will continue to have responsibility over credit administration in his new role. Bagnoli has announced he will retire in 2020 and has assumed the role of Executive Risk Officer, reporting to Richards in connection with transitioning his duties.

“It is with mixed emotions that we announce Mark’s retirement,” said Rajinder P. Singh, BankUnited’s Chairman, President and Chief Executive Officer. “Mark has been instrumental in building the risk management framework at the company over his decade-long tenure and has been a significant part of the executive leadership team. We thank him for his service and contributions to the company.”

Singh added, “We are pleased to announce Jay as Mark’s successor in the chief risk officer role. Since Jay joined the bank in January 2018, he has demonstrated his thought leadership in credit risk management and I believe his track record and experience at the bank as well as in the industry makes him the ideal candidate to take on this expanded role.”

BankUnited Small Business Finance is an active participant in the SBA 7a, SBA 504, and USDA B&I loan programs. Loans are available for a wide variety of customized borrowing purposes including: renovation, construction, expansion, refinancing, or acquiring owner-occupied commercial real estate; acquisition of businesses; franchises and professional practices; purchase or refinance of machinery and equipment; as well as, start-up of franchised businesses, such as restaurants and hotels.