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TCF Financial Shuffles Management, Names New CFO

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(credit: Jupiter Images)

(credit: Jupiter Images)

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WAYZATA, Minn. (AP) — TCF Financial Corp. on Tuesday said it is shuffling several members of its senior management to focus on four areas it says are key to deal with the new banking market.

The bank said it is realigning its management to structure the company under four initiatives: corporate development, enterprise risk management, lending and funding.

Thomas F. Jasper, previously the chief financial officer, was named to the company’s board and given the title of vice chairman for funding, operations and finance. He will oversee all of the bank’s funding capabilities. Jasper has worked for the bank since 2001.

Replacing Jasper as finance chief will be Michael S. Jones, currently chief financial officer of the company’s TCF Equipment Finance unit, which provides small business financing for leasing equipment, and executive vice president of Winthrop Resources Corp., its technology leasing arm.

Craig R. Dahl, previously the executive vice president in charge of wholesale banking, was named to the board and given the role of vice chairman, lending.

Barry N. Winslow, a vice chairman and chief risk officer, was named the executive in charge of corporate development. Winslow has been a member of the board since 2008 and held the position of chief risk officer since 2010. He was previously chief operating officer, retiring in 2007.

Neil Brown, 52, will take over as chief risk officer. Brown has been the bank’s chief operating officer since 2007 and president since 2007.

The bank also named Earl D. Stratton to the position of chief operations officer. He’ll oversee retail branch banking and information technology.

The changes take effect Jan. 1.

TCF Financial has 439 banking offices in eight midwestern and western states, and operates its commercial leasing and equipment finance business throughout the U.S. It also operates a commercial inventory finance business in the U.S. and Canada.

Shares of TCF Financial closed Tuesday trading up 52 cents, or 5.2 percent, at $10.55. The stock has changed hands between $8.61 and $17.37 in the past 52 weeks.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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