On October 24, 2019, the Board of Directors of HomeStreet, Inc. (\”HomeStreet\” or the \”Company\”), upon recommendation of the Board\’s Human Resources and Corporate Governance Committee (the \”HRCG\”), took action to the Company\’s Amended and Restated Bylaws to expand the Board to 10 directors and appoint Nancy Pellegrino to fill the vacancy created by that expansion for a term that will expire at the next annual meeting of the Company\’s shareholders. Ms. Pellegrino will also serve as a member of the Company\’s HRCG.
Ms. Pellegrino has more than 30 years of experience in the financial services, private banking, and wealth management industries. She served as a Managing Director and Regional CEO for Citi Private Bank from July 2010 through October 2013, and was at BNY Mellon Wealth Management from August 2000 through July 2010 where she served as President and Regional Director. She was also at Banc One Corp from June 1990 through June 2000, rising to the position of Senior Vice President and Regional Sales Director, prior to which she was a Vice President at Texas Commerce Bank Trust Company, which she joined in 1982. She also served on the Board of Directors of Puget Sound Bank from September 2014 until January 2018. Since her retirement from Citi Private Bank, Ms. Pellegrino has been providing consulting services to individuals, teams and organizations in the private banking, wealth management, social enterprise and family business industries, drawing on her expertise in those fields. She also serves on the boards of several nonprofit organizations, including the Fred Hutch Cancer Research Center Board of Ambassadors and the Seattle World Trade Center Board of Governors. Ms. Pellegrino received her bachelor’s degree from Vanderbilt University in Fine Arts, and is a graduate of the Northwestern University Graduate Trust School.
The HRCG initially identified Ms. Pellegrino through its 2018 search for qualified candidates that meet the Company\’s diversity goals, as stated in its Principles of Corporate Governance. Ms. Pellegrino is also an expert in the financial services industry, which was also considered important by the HRCG in its evaluation. The HRCG recommended Ms. Pellegrino\’s appointment as part of its ongoing assessment of its board composition and refreshment, following a thorough assessment of her background and qualifications. Ms. Pellegrino was not appointed as a director to any arrangement or understanding with any person, and is not a participant in any related party transaction required to be reported to Item 404(a) of Regulation S-K.
Ms. Pellegrino will receive such compensation as previously described in the Company\’s proxy statement for the Company\’s 2019 annual meeting of the shareholders.
On October 29, 2019, the Company issued a press release on Ms. Pellegrino\’s appointment. A copy of the press release is included as Exhibit 99.1 to this report and incorporated herein by reference. The press release is available on HomeStreet\’s investor relations web site at http://ir.homestreet.com.
HomeStreet, Inc. ExhibitEX-99.1 2 pellegrinopressrelease.htm EXHIBIT 99.1 Exhibit HomeStreet Appoints Nancy Pellegrino To Board of DirectorsMs. Pellegrino brings more than 30 years of wealth management and private banking experience to her role on the board SEATTLE – (October 29,…
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About HOMESTREET, INC. (NASDAQ:HMST)
HomeStreet, Inc. is a financial services company serving customers primarily in the western United States, including Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Its operating segments include Commercial and Consumer Banking, and Mortgage Banking. The Company’s subsidiaries include HomeStreet Bank (the Bank) and HomeStreet Capital Corporation. The Bank is a savings bank that provides mortgage and commercial loans, deposit products and services, non-deposit investment products, private banking and cash management services. Doing business as HomeStreet Insurance Agency, the Company provides insurance products and services for consumers and businesses. The Company has a network of over 40 retail deposit branches located in Washington state, Southern California, Portland, Oregon and Hawaii, as well as over 60 stand-alone lending centers located within its retail deposit branch footprint.
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