Veteran CEO has led group through two crises in his tenure

Hunt

CEO Richard Hunt will step down from the Consumer Bankers Association next summer, the organization announced today. He has led the group since 2009, longer than he originally planned, he said in a statement.

"I set a goal of serving for 10 years and doing everything possible during that time to support our members, advocate for sound banking policy, champion the consumer benefits of retail banking and drive our industry forward," Hunt said. "It's hard to leave something you love—which is why I stayed a little longer than I expected—but now it's time for a new leader."

Hunt hinted at moving on during an interview with CEO Update during the height of the pandemic last year, as he and his staff were going full tilt on the massive Paycheck Protection Program, which funneled SBA loans through banks to hard-hit businesses.

"This is my third crisis as a member of the financial services industry," Hunt said then. "I was at the Securities Industry Association in 2001 and was at SIFMA (Securities Industry and Financial Markets Association) in 2008. Now, I'm the head of our organization during a pandemic."

Hunt restored a struggling CBA to financial health in 2009 following the housing market crash and global economic downturn known as the Great Recession. But, as he told CEO Update last year, "I will not be around for a fourth (crisis)."

The veteran CEO will assist CBA's search committee in identifying a successor.

"With deep gratitude and a heavy heart, we thank Richard for his years of service and for working with us to ensure a smooth and seamless transition," Board Chair Michelle Lee said in a statement.

"Richard has never been one to shy away from a challenge," she said. "Time and again he has risen to the occasion, working tirelessly with his team to remind policymakers in Washington and Americans across the country that at the core of everything we do, we're here to help people and to finance the American Dream."