HomeStreet, the parent company of HomeStreet Bank, announced Thursday it has appointed Mark R. Patterson to its board of directors for both the company and the bank.
Patterson previously served as managing director and equity analyst of NWQ Investment Management Co. from 1997 until his retirement in 2014, where he oversaw NWQ’s financial services sector investments. He also has previously served as director of FBR & Co. from 2015 until the company’s sale in 2017, serving on its audit and compensation committees.
Before joining NWQ, Patterson was at U.S. Bancorp from 1989 to 1997, serving in a variety of roles including vice president of investor relations, where he was a primary contact between the company and the investment community.
“Mark will bring to our board the perspective of a sophisticated institutional investor, as well as significant banking sector experience,” said Scott M. Boggs, lead independent director of HomeStreet. “We have known Mark for years and have previously had discussions with him about the company’s strategy and board composition. As we engaged with Mark, it became clear that his unique combination of investing and sector expertise – in addition to his experience having served on the board of a public financial services company – made him an ideal fit as we execute our strategy.”
“I am happy to be joining the board of a company whose business I’ve come to know well and admire over the years – both currently as a substantial individual shareholder, and previously as an institutional manager overseeing significant investments in HomeStreet,” Patterson said. “I look forward to bringing this perspective to the company’s capable board and management team and helping them maximize the potential of HomeStreet.”
Patterson will also serve as a member of HomeStreet Bank’s finance committee, as well as the enterprise risk management committee for its parent company.