Leadership Changes at Seminole Financial Services Lead to Four Executive Promotions

Chris Diaz and Tim Fetter to serve as co-CEOs, along with new COO and new CFO

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Mar 04, 2019, 13:30 ET

BELLEAIR BLUFFS, Fla., March 4, 2019 /PRNewswire/ -- After 10 years under the leadership of Founder and CEO Robert J. Banks, CCIM, there is new executive leadership at Seminole Financial Services, LLC (SFS). On Friday, March 1, 2019, Banks announced at an internal corporate event that he is stepping away from his role as CEO to assume the title of Chairman and will remain the controlling shareholder of the company. Chris Diaz and Tim Fetter have been named co-CEOs, Ron Campbell has been promoted to COO, and Kris Dunlop has been promoted to CFO.

Seminole Financial Services is a leading provider of debt and tax credit equity financing for renewable energy transactions and also a provider of preferred "equity" for multi-family real estate transactions on a national basis.

According to Banks, SFS has been profitable in all 10 years of its existence, finding success by being in the "relationship business" as opposed to the "transaction business."

The new corporate structure at SFS consists of the following promotions, including two individuals who will serve as co-CEOs.

Going forward, Banks believes the timing is right for this transition. "Chris and Tim have overseen the production and portfolio management sides of the business for several years. Their contributions are the most significant reasons for our achievements over the past decade. The company is in great hands and their leadership will sustain the underlying corporate culture we've created. I will continue to serve on the investment committee and chair quarterly stockholders meetings. I will also be working on corporate issues outside of day to day operations of the company," he said.

"Having co-CEOs will definitely benefit our relatively small, closely-knit organization. I've worked closely for over 10 years with both new co-CEOs, and I have the utmost respect for their capabilities and their demonstrated leadership. Their respective areas of focus dovetail to form a cohesive direction for SFS, and I'm fully confident that they can work as a team in running the organization while still attending to their primary disciplines," he said.

Executive Promotions

Chris Diaz, co-CEO – Diaz previously served as Principal/Executive Vice President-Business Development at SFS and will maintain those responsibilities in addition to his new role. He is also a corporate shareholder. Since joining SFS in 2010, he has been responsible for the identification, evaluation, and negotiation of renewable energy finance transactions focusing on solar and wind projects between $2 million and $40 million in need of construction/interim financing and permanent debt financing. To date, Diaz has originated over $1.2 billion in construction and permanent financing, totaling more than 750MW for renewable energy projects.

Prior to SFS, Diaz was employed by Credit Suisse, MMA Financial and the Midland Companies where he gained over 15 years of experience with tax credits and financial services. He has had multiple articles published on the subject of renewable energy finance and continues to be a frequent speaker on renewable energy finance and energy credits at national industry conferences. He is an elected member of the Board of Directors for the Solar Energy Industry Association (SEIA), is a board member for the Solar Energy Trade Show ("SETS") Board of Managers, is a member of SETS Board of Managers Finance Committee, and was Vice-President of the Board of Directors for the Distributed Wind Energy Association (DWEA). He holds a Bachelor's Degree in Social Science with an emphasis in urban and regional planning from Florida State University, as well as an MBA from Nova Southeastern University.

Tim Fetter, co-CEO – Fetter is the former Principal/Executive Vice President-Credit and Risk Management at SFS and will maintain those responsibilities in addition to his new role. He is also a corporate shareholder. Fetter joined SFS at its formation as a senior portfolio manager and oversaw the underwriting, loan servicing and asset management functions at the firm. Prior to that, he was employed by MMA Financial, LLC as a debt portfolio manager analyzing and managing construction, permanent and supplemental loan portfolios. Prior to joining MMA Financial, LLC, Fetter was with Raymond James Financial and Raymond James Bank, where he worked as a senior corporate projects analyst and commercial loan underwriter. He has a Bachelor of Science degree in Finance and an MBA from the University of South Florida in Tampa.

Ron Campbell, CCIM, COO – Campbell is the former Principal/Chief Financial Officer at SFS, and is also a corporate shareholder. In his new role as COO, Ron will focus heavily on the company's growing number of financial partners.

Campbell joined SFS in 2009. His experience includes working as a CPA in the audit department of Touche Ross & Company, various financial positions with Guardian Industries Corp., and CFO for the Detroit Pistons Basketball Company and Palace Sports & Entertainment. Campbell spent a decade as president and NHL alternate governor for the Tampa Bay Lightning Hockey Club. He serves on the Tampa Bay Sports Commission Board of Directors, Town of Belleair Police Officers' Pension Board and the Town of Belleair Infrastructure Board. He graduated cum laude from Eastern Michigan University, earned an MBA in Finance from Walsh College and received an honorary doctorate from Walsh College in 2006. Campbell is a licensed real estate agent in Florida and Michigan, and holds the CCIM designation awarded by the National Association of Realtors. He was recently appointed (February 2019) to the Board of Freedom Bank in St. Petersburg.

Kris Dunlop, CFO – Dunlop is the former Senior Vice President/Controller at SFS. Dunlop joined the company in 2013, and as the controller for The Seminole Companies, he has oversight of all of the accounting, treasury and Information technology functions as well as completion of various compliance reports including corporate financial audits and tax returns. Prior to joining SFS, Dunlop spent over 14 years with various companies in the capacity of staff accountant and controller. He is a Certified Public Accountant and has a Bachelor of Science degree in Accounting from Missouri State University in Springfield, Missouri.

About Seminole Financial Services, LLC

Since 2009, Seminole Financial Services has committed more than $1.6 billion in construction and permanent debt financing plus tax credit equity for more than 250 solar and wind installations throughout the continental U.S. and Hawaii, for the equivalent of over 900 MW in installed capacity. Seminole Financial Services, LLC is the operating entity for the six companies that collectively make up The Seminole Companies. For more information about The Seminole Companies please visit our website at www.seminolefinancialservices.com.

About Bob Banks

Prior to founding The Seminole Companies (Seminole) in December 2008, Bob was the CEO and majority owner of The Midland Companies (Midland) which was sold to a public company in 1999. He was with Midland since 1973 and remained employed by the purchaser (MuniMae) as vice chairman until he retired in December 2003. Bob is a licensed real estate broker in Florida and Michigan and holds the CCIM designation awarded by the National Realtors Association in Chicago. He is an emeritus member of the Board of Visitors at the Smeal College of Business at Penn State University, and also Director/Member for the Penn State Institute for Real Estate Studies. He is the past general chairman of Copperhead Charities, Inc., a Tampa Bay charity that acts as the host organization for the PGA Tour Golf Tournament, now known as the Valspar Championship. Bob is a graduate of the Smeal College of Business at The Pennsylvania State University. He also served as an Officer in the United States Marine Corps for four years, serving as a Platoon Commander and Company Commander in Vietnam.