New bank hire to lead turnaround

Joe Montana

Modern Bank, a lender to the wealthy where the former 49ers quarterback is vice chairman, has hired Citigroup veteran Damian Kozlowski to lead a turnaround after almost $30 million of losses in five years. Kozlowski, who ran Citigroup’s private bank from June 2005 to April 2007, said he joined New York-based Modern as chief executive officer Nov. 8.

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