Cross River Bank on Tuesday announced the addition of a new executive leader who boasts a 25-year career including time as executive vice president and chief financial officer, and later executive vice president and chief business control officer, for Santander US.
Melissa Ballenger will serve as executive vice president and CFO for Fort Lee-based Cross River, effectively immediately.
In the new role, reporting to Founder, Chief Executive Officer and Chairman Gilles Gade, she will be responsible for overseeing financial and strategic planning, balance sheet structuring, accounting functions, risk management and funding strategies, Cross River said.
Ballenger comes to the position from State Street Corp. where she served as executive vice president, chief financial officer of Europe, Middle East and Africa. Throughout her career she has also held senior positions including executive vice president, deputy chief financial officer for TD Bank NA and controller and principal accounting officer for MasterCard Worldwide and Washington Mutual Bank, according to Cross River.
“As we look to the future, bringing on an executive of Melissa’s caliber – who possesses deep industry knowledge, a proven track record, and a clear ability to lead – positions Cross River to drive further growth and capitalize on the many opportunities ahead,” said Gade, in a prepared statement.
In June, Cross River expanded with the acquisition of Seed – a small business banking technology platform – and plans to open offices on the West Coast in San Francisco and Portland.
“Cross River is disrupting a dynamic and rapidly-evolving financial services industry, and I am incredibly excited to be part of the team that will help this company continue to grow and develop,” Ballenger said in a prepared statement.
“Gilles and his team embody the kind of leadership and values that inspire a culture of innovation and entrepreneurship that is helping to redefine the financial services and fintech space,” she added.