DENVER (PRNewswire) — CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, announced that Andrew Jacob will succeed Ann Trakimas as the bank’s Chief Operating Officer.
Trakimas will retire from the bank at the end of 2019. Prior to joining CoBank in 2011, Trakimas served as an outside director on the board of the Federal Farm Credit Banks Funding Corporation, the entity which issues debt securities that CoBank and other Farm Credit institutions use to fund their operations. She has more than 35 years of experience within the financial services industry, where she worked for Chemical Bank and Morgan Stanley. More recently, Trakimas was an executive with Goldman Sachs, where she held numerous positions including head of the firm’s Financial Institutions Credit Risk Management and Advisory group.
“Ann has been instrumental in building our capabilities across a number of critical disciplines, including our technology, data, process, change management, operations and project execution functions,” said Thomas Halverson, CoBank’s president and chief executive officer. “I am deeply grateful to Ann for her dedication to the Farm Credit System and to CoBank, for her counsel and support, and for her many contributions to our success over the past eight years.”
Jacob currently serves as the bank’s Chief Regulatory, Legislative and Compliance Officer. Before joining CoBank in 2011, Jacob spent almost 25 years with the Farm Credit Administration, the independent regulator for the Farm Credit System, where he served in a variety of leadership roles within the agency’s Office of Examination, Office of Policy and Analysis, and Office of Secondary Market Oversight. In his current role at CoBank, Jacob has responsibility for regulatory matters, government relations, compliance, industry research, corporate communications, and enterprise security.
“The COO function at CoBank is essential to our ability to serve customers with excellence, drive operating efficiency and fulfill our mission of service to rural America,” Halverson said. “I’m delighted that Andrew has accepted this appointment and that we will continue to benefit from his leadership in this new role.”
Both Trakimas and Jacob serve on the bank’s Management Executive Committee.
CoBank is a $139 billion cooperative bank serving vital industries across rural America. The bank provides commercial loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 70,000 farmers, ranchers and other rural borrowers in 23 states around the country.
CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.
Certain of the statements contained in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual future business may differ materially and adversely from our expectations expressed in any forward-looking statements. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “project,” “target,” “may,” “will,” “should,” “would,” “could,” or similar expressions. Although we believe that the information expressed or implied in such forward-looking statements is reasonable, we can give no assurance that such projections and expectations will be realized or the extent to which a particular plan, projection or expectation may be realized. These forward-looking statements are based on current knowledge and subject to risks and uncertainties. We encourage you to read our Annual Report and Quarterly Reports located on the bank’s website at www.cobank.com. We undertake no obligation to revise or publicly update our forward-looking statements for any reason.
— CoBank via PRNewswire
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