Managerial change at Financial Institutions, Inc.

September 2, 2014 Updated Sep 2, 2014 at 8:04 AM EDT

By Allissa Kline, Buffalo Business First

...

Managerial change at Financial Institutions, Inc.

September 2, 2014 Updated Sep 2, 2014 at 8:04 AM EDT


One of the top named executives at Financial Institutions Inc. has departed the Warsaw-based company and an existing employee has stepped in to temporarily fill the position.

According to a recent regulatory filing, chief risk officer Kenneth Winn exited Financial Institutions in August and David Case, chief commercial credit officer, was appointed to Winn's post. Case will handle both roles, at least on an interim basis, the filing said.

In a statement, the company said it "has taken the initial step towards its plan to implement an enterprise risk management structure for managing company-wide risks." The plan aims to "build upon the company's already strong risk culture and program."

No details were provided about the reason for the departure of Winn, who was appointed to the post in 2012. According to the company's most recent proxy statement, filed in March, Winn received total compensation of $339,556 in 2013, making him the fifth highest-paid executive among the company's seven named executives.

Financial Institutions is the parent company of Five Star Bank, the sixth-largest bank in the region based on the number of deposits it holds in the region's eight counties.