NBT Bancorp adds new GC

NBT Bancorp adds new GC

Angela Wolfe Kelley moved on to PacWest in the wake of Randy Sparks' appointment

There has been an addition to NBT Bancorp's legal department. The general counsel has extensive experience working in the banking field.

NBT welcomes M Randolph "Randy" Sparks as its new executive vice president and general counsel, where he will coordinate the company's legal activities, managed external counsel and help supervise relations with regulatory agencies.

He will work at NBT's headquarters in Norwich, NY and will be named corporation secretary by the board of directors. Sparks is also a member of NBT's executive management team.

As a result of her departure in June 2021, Angela Wolfe Kelley will replace him as President and CEO of the $12bn publicly traded holding company. Prior to moving west, Kelly worked at NBT for just over two years.

Sparks began his legal career as a private lawyer for Mayer Brown and Locke Lord, then joined Bank of America's legal department in 1998. In 2014, he was appointed general counsel and corporate secretary at MidFirst. Prior to joining MidFirst, he was chief counsel and managing director of global transactional services.

In his statement, John Wyatt Jr, NBT President and CEO commented that Sparks brings a wealth of varied experience in banking and financial services, as well as legal and regulatory aspects of the business that support our strategic growth initiatives."

During the year end, 2021, NBT, an investment company based in Norwich, NY, reported total assets of $12 billion. Through NBT Bank NA, one of the largest commercial lenders in the region and a full-service community bank, it primarily serves small businesses and consumers. A tight labour market and rising US interest rates could affect the bank in the months ahead. Rates have been rising since March, with the Federal Reserve planning to hike rates aggressively during the coming months, including two half-point rate increases in May and June. A total of 140 NBT Bank branches are located in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut.