TULSA — Steve Bradshaw will take over as president and CEO of BOK Financial Corp. in January, taking over from Stanley Lybarger, who will retire at the end of the year after 40 years with the company.
BOK Financial is parent of seven banking divisions, including Bank of Oklahoma, the state's largest bank. The company also operates several financial firms including an electronic funds network.
Daniel Ellinor will take over as chief operating officer.
Both Ellinor and Bradshaw are being promoted from previous senior officer positions within the company and are part of a succession plan that BOK has been working on for the past five to seven years, Lybarger said.
“There are a variety of advantages to promoting from within,” Lybarger said. “We know them and they know the organization.”
Bradshaw joined BOK Financial in 1991 to establish a new consumer investment business. In his current role, he has oversight for the company's consumer banking, mortgage, wealth management, treasury services and business banking functions, as well as Colorado State Bank and Trust, and Bank of Kansas City.
“The company's greatest strength is a very impressive collection of talented individuals who have proven they can produce exceptional financial results through superior service,” Bradshaw said in a statement. “I'm confident we can turn a challenging operating environment in our industry into an opportunity for BOK Financial to grow earnings and expand capabilities going forward.”
Ellinor joined BOK Financial 10 years ago after a 20-year banking career in Texas, assuming responsibility for Bank of Oklahoma commercial lending, TransFund, international banking and treasury services. Ellinor's current responsibilities include the majority of BOK Financial's commercial lending activities, consisting of energy, commercial real estate and health care lending, TransFund, as well as Bank of Oklahoma, Bank of Albuquerque, Bank of Arkansas and Bank of Arizona.
Lybarger said Bradshaw and Ellinor are both well equipped for the existing business landscape.
“The current economic climate is still challenging because of exceedingly low interest rates that make margins difficult for the banks, as well as slow economic growth,” Lybarger said, who also cited additional regulatory oversight due to Dodd-Frank reforms.
“I think both of them will be all about the tremendous growth of the organization,” Lybarger said.
Both Bradshaw and Ellinor will assume their new positions in January 2014.