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Metropolitan Commercial Bank Bolsters Risk Management, Finance Teams

March 01, 2024, 07:14 AM

Metropolitan Commercial Bank, a New York City-based full-service commercial bank, announced the appointment of Gregory Gaare as Senior Vice President and Chief Risk Officer, Theodore George Andreades as Senior Vice President and Bank Secrecy Act/Anti-Money Laundering Officer, and John M. McCaffery as Senior Vice President and Treasurer.

“Metropolitan Commercial Bank is delighted to welcome Greg Gaare, a seasoned risk management professional. As MCB charts its course toward expansion, enlisting individuals from larger financial institutions with extensive risk management experience is imperative. Securing the expertise of Ted Andreades, an experienced BSA/AML officer, is crucial in assembling a robust risk management team capable of navigating today’s and tomorrow’s regulatory landscape,” said Mark R. DeFazio, President and CEO of Metropolitan Commercial Bank. “Furthermore, with favorable conditions at our back, we are pleased to have John McCaffery, a highly experienced finance professional with extensive large-bank experience, join our finance team.”

Gaare has amassed 32 years of experience in risk management and regulatory supervision, with notable positions at Flagstar Bank, N.A., Alliance Capital Management Corporation, Barclays Bank PLC, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Bank of New York (FRBNY). He recently was the Deputy Chief Risk Officer in the Risk Management Division of Flagstar Bank.

Gaare holds a Master of Business Administration (MBA) in Accounting & Finance from New York University, New York, NY, and a Bachelor of Science (BS) in Business, Management and Finance from Brooklyn College, Brooklyn, NY.

“I look forward to contributing to the Bank’s growth and development, supported by robust risk management and regulatory-compliant frameworks. We will continue to position Metropolitan Commercial Bank as an industry leader,” said Gaare.

Andreades brings 37 years of expertise in Anti-Money Laundering (AML), Bank Secrecy Act (BSA), Compliance, Office of Foreign Assets Control (OFAC), and related roles, with significant contributions at New York Community Bank (NYCB), J.P. Morgan Chase, American International Group (AIG), and the Teachers Insurance Annuity Association and the College Retirement Equity Fund (TIAA-CREF). He most recently managed the integration of NYCB, Flagstar Bank, and Signature Bank’s BSA and OFAC departments.

Andreades holds a Bachelor of Science (BS) and a Bachelor of Arts (BA) from the State University of New York, Fredonia, NY, and is a Certified Anti-Money Laundering Specialist (CAMS) since 2003, a Certified Regulatory and Compliance Professional (CRCP) Phase I, and Phase II by the FINRA Institute at Wharton School of Business, and designated by the Associate Insurance Regulatory Compliance (AIRC) program at Life Office Management Association LOMA 280, 290, 410, and 420.

“With its rich history and commitment to excellence, Metropolitan Commercial Bank is at the forefront of the commercial banking industry. I am excited to contribute to its continued success and join an innovative and dynamic team,” said Andreades.

McCaffery brings four decades of bank finance expertise, predominantly serving as a senior finance professional across renowned New York regional and community banks such as Dime Community Bancorp, Bridge Bancorp, Inc. (BNB Bank), State Bank of Long Island, Capital One N.A., and North Fork Bank. He recently held the position of Executive Vice President and Chief Financial Officer at Newtek Bank, N.A., in Lake Success, NY.

McCaffery holds a Bachelor of Business Administration (BA) in Banking & Finance from Hofstra University, Nassau County, N.Y. He has completed Level I & II of the Chartered Financial Analyst Program.

“I am excited about the opportunity to join the team at Metropolitan Commercial Bank. The Bank’s values and commitment to innovation and its clients align perfectly with my personal and professional principles,” said McCaffery.

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