WILMINGTON — Live Oak Bank has hired Huntley Garriott, a former Goldman Sachs & Co. partner, as the bank’s new president.
Garriott most recently served as a partner in the investment banking division of Goldman Sachs, co-leading the banks and specialty finance team within the financial institutions group.
At Goldman, Garriott was appointed to managing director in 2007 and made partner in 2014.
Garriott said, “This is an exciting time to join the Live Oak team as it continues to redefine the future of banking through innovation, technology, and a culture that never wavers from putting the customer first.”
Live Oak Bank
He will take over the role of president from Scott Custer, who will transition into a senior position and focus on the bank’s strategic development goals.
Live Oak works to make the banking experience innovative and digital and will benefit from the abundance of experience Garriott entertains.
“We are in the business of making sure our country’s entrepreneurs have the capital they need to successfully support the backbone of America’s economy,” said CEO Chip Mahan in a statement. “Huntley will continue to steer Live Oak in the direction of being a game changer in the industry.’
In 20 years at Goldman, Garriott held numerous roles focused on traditional investment banking, private equity investing, debt capital markets and risk management.
Live Oak Bank is a subsidiary of Live Oak Bancshares Inc., a bank holding company. It is one of the nation’s leading originators of small business loans.
Its stock fell 40 cents, or 1.4 percent, to $27.40.
This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism
