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BankUnited appoints James Mackey as CFO (BKU:NYSE)

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  Published in Business and Finance on Monday, November 10th 2025 at 7:23 GMT by Seeking Alpha
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A seasoned finance professional

James Mackey brings more than two decades of executive finance experience across the banking sector. Prior to joining BankUnited, he served as CFO of FirstBank, a mid‑size community bank in the Midwest, from 2017 to 2023. In that role he led a $1.5 billion institution through a successful strategic review that identified $70 million in operational efficiencies, a $200 million capital infusion, and the launch of a suite of digital banking products that boosted deposit growth by 12 % year‑over‑year.

Before FirstBank, Mackey was Vice President of Finance and Treasury at Wells Fargo Bank’s Retail & Small Business division, where he managed a portfolio of $30 billion in assets and oversaw the implementation of an enterprise‑wide risk management framework. Earlier in his career, he held senior accounting roles at JPMorgan Chase, where he was instrumental in the bank’s post‑financial crisis restructuring and audit process.

Mackey holds a Bachelor of Science in Accounting from the University of Illinois and an MBA in Finance from the University of Chicago Booth School of Business. He is a Certified Public Accountant (CPA) and a member of the American Institute of Certified Public Accountants.

BankUnited’s vision for the future

BankUnited’s CEO, Kevin J. McDonald, welcomed Mackey in a statement that underscored the bank’s intent to deepen its digital footprint and broaden its commercial banking footprint in the Southeast. “James brings a proven track record of driving financial discipline and capital efficiency, which will be pivotal as we invest in technology, expand into new markets, and continue to serve our customers with greater agility,” McDonald said. “His expertise in risk management will also help us navigate an evolving regulatory environment while sustaining profitability.”

The appointment was endorsed by the bank’s Board of Directors, which cited Mackey’s “deep experience in scaling financial operations and his ability to align finance with strategic objectives.” The board noted that the CFO will play a key role in leading the bank’s ongoing capital optimization strategy, which includes targeting a Tier 1 capital ratio of 12 % by 2025 and supporting the planned expansion of the bank’s branch network in key growth markets.

What this means for BankUnited’s operations

Mackey’s arrival signals a renewed focus on cost efficiency. During his tenure at FirstBank, he led a restructuring initiative that eliminated 3 % of operating expenses, or approximately $15 million annually, by consolidating back‑office functions and renegotiating vendor contracts. BankUnited plans to replicate similar initiatives, with an emphasis on automation and cloud‑based solutions to reduce overhead and enhance customer experience.

In addition to cost control, Mackey will oversee the bank’s technology investment strategy. BankUnited has recently announced a $50 million investment in digital banking platforms aimed at expanding its mobile app capabilities and enhancing data analytics for personalized customer offers. The CFO will be responsible for ensuring these projects deliver ROI and align with the bank’s risk management framework.

Mackey will also spearhead the bank’s capital planning and capital allocation efforts. BankUnited is currently exploring opportunities to raise additional capital through a rights offering to support growth initiatives, and the CFO will be tasked with advising the board on the optimal capital structure.

Market reaction and investor sentiment

BankUnited’s shares were trading at $15.48 per share on the NYSE on the day of the announcement, reflecting a modest 0.6 % uptick from the prior close. Analysts from Bloomberg and Thomson Reuters highlighted the CFO’s strong financial background as a positive for the bank’s future earnings outlook. “A robust finance team is essential for capital-intensive institutions like BankUnited, especially as they pursue digital transformation,” said Bloomberg analyst Maria Sanchez. “James Mackey’s track record suggests he can deliver on both cost efficiency and capital deployment.”

The bank’s latest quarterly earnings, released in early August, showed a 2.1 % increase in net income, driven by higher interest income and improved asset quality. The CFO’s appointment is expected to further enhance profitability by tightening cost controls and improving revenue generation through technology-driven customer acquisition.

Conclusion

BankUnited’s appointment of James E. Mackey as CFO underscores the bank’s commitment to strengthening its financial stewardship while accelerating its growth initiatives. With a distinguished career in banking finance, Mackey is positioned to guide the bank through a period of technological adoption, capital optimization, and regulatory compliance. As BankUnited pushes forward with its expansion plans, investors and stakeholders alike will be watching closely to see how Mackey’s expertise translates into sustained profitability and shareholder value.