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Tom Halverson to succeed Bob Engel as CoBank’s CEO

CoBankCoBank, a cooperative bank serving agribusinesses, announced that Tom Halverson has been named as the bank’s new chief executive officer, effective January 1, 2017.

The CoBank Board of Directors has appointed Mr. Halverson, currently CoBank’s chief banking officer, as CEO-elect.

Mr. Halverson joined CoBank in 2013 and has responsibility for banking groups serving agribusiness, communications, power and project finance customers. He is a member of the bank’s Management Executive Committee and serves as vice chairman and director of the bank’s leasing subsidiary.

Previously, Mr. Halverson spent more than 16 years in a variety of executive positions with Goldman Sachs, including managing director and chief of staff for Goldman Sachs Bank USA, head of credit risk management for Goldman Sachs in Asia (ex-Japan) and executive director of credit risk management and advisory in London.

Before joining Goldman Sachs, he served as principal credit officer for country risk at the European Bank for Reconstruction and Development.

Mr. Halverson holds a bachelor’s degree from Wabash College and a doctorate in war studies from King’s College London.

He will succeed current CEO Bob Engel, who previously announced that he will be leaving at the conclusion of his current employment agreement on June 30, 2017.

Mr. Engel joined CoBank in 2000 as President and Chief Operating Officer, becoming President and Chief Executive Officer in 2006.

Mr. Engel and Mr. Halverson will remain in their current positions until January 1, 2017, after which Mr. Engel will move into a strategic advisory role.


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