WILMINGTON, Del. - WSFS Bank, the primary subsidiary of WSFS Financial Corporation (NASDAQ:WSFS), announced the appointment of Stacey Ioia as Senior Vice President, Director of Enterprise Fraud Risk Management. Ioia's role will focus on overseeing the bank's program to prevent, detect, and mitigate financial crime and potential financial losses.
Ioia brings a wealth of experience to WSFS, having previously served as Senior Vice President and officer in charge of the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and the Office of Foreign Asset Control (OFAC) at Washington Federal (NASDAQ:WAFD) Bank in Boise, Idaho, where she led the Financial Crimes Division.
Her certifications include Certified Anti-Money Laundering Specialist (CAMS) and Certified Expert Cyber Investigations (CECI), and she is currently pursuing additional qualifications in regulatory compliance and enterprise risk.
Michael Dzielak, Senior Vice President, Director of Financial Crimes at WSFS, expressed enthusiasm for Ioia's appointment, citing her proven leadership and extensive background in financial crimes as major assets in the evolving challenge of protecting customers against fraud.
Ioia's academic credentials include a Master of Science in Public Affairs and Administration from West Chester University, as well as dual bachelor's degrees in Criminal Justice/Police Science and Liberal Arts and Sciences. She is also an active member of professional organizations dedicated to combating financial crime.
WSFS Financial Corporation, with $20.6 billion in assets and $80.5 billion in assets under management and administration as of March 31, 2024, operates 114 offices across several states, offering a range of financial services. The bank, established in 1832, is recognized as the oldest and largest locally headquartered bank and trust company in the Greater Philadelphia and Delaware region.
This leadership change is part of WSFS's ongoing efforts to strengthen its risk management capabilities. The information is based on a press release statement from WSFS Financial Corporation.
In other recent news, WSFS Financial has been making significant strides in its business operations. The company reported a strong start to the first quarter of 2024, with core earnings per share (EPS) of $1.11, demonstrating growth in its loan and deposit portfolios. DA Davidson maintained its 'Buy' rating on WSFS Financial, highlighting the bank's fee growth potential and its advantageous position in the current interest rate environment.
The firm also adjusted its 2025 earnings estimate for WSFS, anticipating increased share buybacks. In addition, WSFS announced key leadership appointments, including David Burg as Chief Financial Officer, Arthur J. Bacci as Chief Operating Officer, and Jamie P. Hopkins as Chief Wealth Officer.
Also, Jasmine Yu was appointed as the new Senior Vice President and Chief Investment Officer, a move aimed at enhancing the company's investment strategies and offerings. These recent developments reflect WSFS Financial's ongoing commitment to leadership development and financial growth.
InvestingPro Insights
WSFS Financial Corporation (NASDAQ:WSFS) has recently been in the spotlight following the appointment of Stacey Ioia as Senior Vice President, Director of Enterprise Fraud Risk Management. As the company fortifies its defenses against financial crime, it's also worth noting how the market is valuing WSFS.
According to InvestingPro data, WSFS boasts a market capitalization of $3.32 billion, reflecting its substantial presence in the financial sector. The company's P/E ratio stands at 12.49, suggesting that investors are paying $12.49 for every dollar of earnings, which is relatively moderate and could indicate a potentially stable investment.
Investors looking at recent performance will find that WSFS has seen a significant return over the last week, with a 14.15% total price return, which is part of a broader trend with a 38.48% return over the past year. This performance could attract those looking for companies with strong momentum in their share price.
Moreover, WSFS has a history of rewarding shareholders, having raised its dividend for 10 consecutive years, and has maintained dividend payments for 27 consecutive years, with a current yield of 1.07%. This demonstrates the company's commitment to returning value to its investors.
For those seeking further insights and analysis, InvestingPro offers additional tips on WSFS, including indicators of the stock trading in overbought territory and insights on its P/E ratio relative to near-term earnings growth. Interested investors can explore these tips and more by visiting https://www.investing.com/pro/WSFS.
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