First Merchants names new board chair
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The founder of an Indianapolis financial services firm and longtime board member of Muncie-based First Merchants Corp. has been named chair of the bank’s board, the bank announced Wednesday.
Jean Wojtowicz succeeds the the retiring Charles Schalliol as chair of First Merchants Corp. and First Merchants Bank.
“Leading this esteemed board is a privilege I take seriously,” Wojtowicz said in a news release. “The financial landscape is ever-changing. As Chair, I am committed to navigating the challenges and seizing the opportunities to ensure the bank’s long-term stability and growth for our shareholders, clients, teammates, and all stakeholders.”
Wojtowicz is the founder and president of Cambridge Capital Management Corp., which manages non-traditional sources of growth capital for businesses, such as fixed-rate loans as well as venture capital. She has served on the First Merchants board for 20 years.
Schalliol steps down after helping the bank grow from $3 billion to more than $18 billion in assets over his 17-year tenure.
Also on Tuesday, former First Merchants Corp. CEO Michael Rechin was appointed vice chair of the board. He retired as CEO in 2020.
First Merchants Corp. operates more than 116 banking centers in Indiana, Illinois, Michigan and Ohio and a wealth management company, First Merchants Private Wealth Advisors.