The Federal Home Loan Bank of Pittsburgh (FHLBank) has announced that David G. Paulson, current COO, will become President and CEO effective October 1, 2024. Winthrop Watson will become Executive Senior Advisor, and his previously announced retirement date of December 31, 2024, remains unchanged.
As a Bank leader since 2010, and COO since January 2020, Paulson has worked closely with Watson to advance FHLBank’s mission. Paulson has been an effective leader and through his tenure has managed FHLBank’s balance sheet, capital position, community investment impact, and talent pipeline.
“Dave and I have worked closely through his 14 years of FHLBank service across increasing levels of responsibilities,” said Watson. “The President and CEO transition has been going well, and I’m excited for the future of the cooperative under his leadership.”
Paulson has more than 30 years of financial services and banking experience, primarily in treasury and capital markets. Prior to FHLBank Pittsburgh, Paulson was SVP at National City Corporation for almost a decade, and a portfolio manager at Integra Financial and Equibank prior. Paulson has a B.S. in Finance and an MBA, both from Duquesne University. He is involved in the community as a board member for the National Aviary, and as a member of the La Roche University Business Advisory Committee.
Watson was appointed by the Board of Directors of the FHLBank Pittsburgh as President and CEO, effective January 1, 2011. Previously, he was COO of FHLBank Pittsburgh, a position that he assumed in November 2009. Watson served as Managing Director at J.P. Morgan in Hong Kong from 2007-2009, after serving that company in various capacities in New York for 22 years. In Hong Kong, he served as Senior Client Executive for J.P. Morgan’s Asia Pacific central banks and sovereign wealth funds, as head of its Asia Pacific debt capital markets, and as Chair of its Asia Pacific Investment Banking Business Evaluation Committee. Earlier, Watson was Managing Director of J.P. Morgan in New York, where he helped build the company’s investment and commercial banking franchise for U.S. government-sponsored enterprises including the FHLBanks. His background also includes several financial advisory assignments on behalf of the FHLBanks. Watson holds a B.A. from the University of Virginia and an MBA from Stanford University.
FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, which include commercial and savings banks, community development financial institutions, credit unions and insurance companies in Delaware, Pennsylvania, and West Virginia. FHLBank products and resources help support community lending, housing, and economic development. As one of 11 Federal Home Loan Banks established by Congress, FHLBank has been an integral and reliable part of the financial system since 1932.
