Financial Services >> CEO Interviews >> November 27, 2013

Interview with the Chairman and CEO: Customers Bancorp, Inc. (CUBI)

Sidhu, Jay
Jay Sidhu is Chairman and Chief Executive Officer of Customers Bancorp, Inc. Only a few years after his widely publicized departure from Wyomissing, Pennsylvania-based Sovereign Bancorp, Mr. Sidhu returned to banking. In 2009, backed by a group of investors, many from his Sovereign days, Mr. Sidhu acquired New Century Bank, an ailing $265-million institution only miles away from Sovereign Bancorp’s offices. In four years the bank, renamed Customers Bancorp, Inc., has grown into a $4 billion institution and tripled its branch network. Mr. Sidhu says the bank is focused on low-risk, high-return investments, and giving larger institutions a run for their money on customer service. Profile
TWST: Tell us about the acquisition of New Century in 2009 and how Customers Bank became what it is today.

Mr. Sidhu: I was the Chief Executive Officer of Sovereign Bancorp for 17