South Bend-based 1st Source Corp. (Nasdaq: SRCE) has announced the promotion of two senior leaders. Brett Bauer has been promoted to chief financial officer and treasurer of 1st Source Corp. and 1st Source Bank, while John Bedient has been promoted to chief operations officer of 1st Source Bank.
Bauer will be responsible for accounting, finance, asset liability management, treasury management and investor relations. The bank says Bedient will oversee a new operations group combining both deposit and loan operations.
“Both colleagues were promoted due to their long-term service and success at 1st Source, as well as their service, dedication and desire to live the Bank’s values,” said Christopher Murphy, chairman and chief executive officer of 1st Source Corp. “These new responsibilities harness the unique capabilities of each for the benefit of the company, their colleagues, and most importantly, the Bank’s clients and shareholders.”
Bauer has served as chief investment officer since 2012. He has been responsible for managing 1st Source’s funding and treasury functions, bank liquidity, municipal and large CD pricing and services, and setting and managing the Bank’s asset liability policy and approach. He first joined the bank as a corporate trainee in 1999.
Prior to 1st Source, Bauer joined Bear Stearns Japan Ltd. in foreign securities operations and later served as a vice president in the government securities portfolio management area for Bear Stearns.
Bedient served as 1st Source’s group head of administrative services and retail operations since 2018 and has worked in the bank’s retail and deposit services areas since 2008. He joined the bank as a financial analyst in accounting, and in 1995 became the assistant controller in the specialty finance group and was later promoted to assistant vice president.