{"id":36126,"date":"2023-02-17T10:30:13","date_gmt":"2023-02-17T15:30:13","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=36126"},"modified":"2023-02-17T10:30:13","modified_gmt":"2023-02-17T15:30:13","slug":"arrow-financial-names-penko-ivanov-as-chief-financial-officer-effective-feb-22","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2023\/02\/arrow-financial-names-penko-ivanov-as-chief-financial-officer-effective-feb-22\/","title":{"rendered":"Arrow Financial Names Penko Ivanov As Chief Financial Officer Effective Feb. 22"},"content":{"rendered":"<figure id=\"attachment_36127\" aria-describedby=\"caption-attachment-36127\" style=\"width: 198px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-36127\" src=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2023\/02\/new-arrow-cfo-ivanov-198x300.jpg\" alt=\"\" width=\"198\" height=\"300\" srcset=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2023\/02\/new-arrow-cfo-ivanov-198x300.jpg 198w, https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2023\/02\/new-arrow-cfo-ivanov.jpg 480w\" sizes=\"(max-width: 198px) 100vw, 198px\" \/><figcaption id=\"caption-attachment-36127\" class=\"wp-caption-text\">Penko Ivanov was named as chief financial officer at Arrow Financial Corp.<br \/>Courtesy Arrow Financial Corp.<\/figcaption><\/figure>\n<p>Arrow Financial Corp. announced the appointment of Penko Ivanov, CPA, MBA, as chief financial officer, executive vice president, treasurer and chief accounting officer of Arrow and its two subsidiary banks, Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co., as well as its insurance subsidiary, Upstate Agency, LLC.<\/p>\n<p>The appointment is effective Feb. 21.<\/p>\n<p>As CFO, Ivanov will be responsible for planning and management of all finance, treasury and accounting functions for Arrow, which reported $3.97 billion in assets as of Dec.<span class=\"Apple-converted-space\">\u00a0 <\/span>31.<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<p>He will be based in the company\u2019s Glens Falls headquarters and report to Arrow President and Chief Executive Officer Tom Murphy.<\/p>\n<p>\u201cWe are pleased to welcome Penko to the Arrow family of companies,\u201d said Murphy. \u201cHis 30 years of experience and expertise in financial planning and analysis, controllership, financial reporting, treasury and more will be invaluable as we build upon Arrow\u2019s strong financial footing and continued growth.\u201d<\/p>\n<p>\u201cI am excited to join Arrow and contribute to its track record of stellar financial performance and management. I look forward to assisting the company in its strategic and financial goals,\u201d said Ivanov.<\/p>\n<p><span class=\"s1\"><span class=\"s2\"><!--more--><\/span><\/span>Ivanov most recently served as executive vice president and chief financial officer of Bankwell Financial Group, Inc. in New Canaan, Conn. Prior to that, he worked in various finance positions for Doral Bank, General Electric Co. and PepsiCo Inc. He began his career with Ernst &amp; Young GmbH in Munich, Germany.<\/p>\n<p>Ivanov holds his MBA, and bachelor degrees in both accounting and finance with a minor in economics from the University of South Florida in Tampa.<\/p>\n<p>Arrow Financial Corp.<span class=\"Apple-converted-space\">\u00a0 <\/span>is the parent of Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co. Other subsidiaries include North Country Investment Advisers, Inc., and Upstate Agency, LLC, specializing in property and casualty insurance and group health and employee benefits.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arrow Financial Corp. announced the appointment of Penko Ivanov, CPA, MBA, as chief financial officer, executive vice president, treasurer and chief accounting officer of Arrow and its two subsidiary banks, Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co., as well as its insurance subsidiary, Upstate Agency, LLC. The appointment [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":36127,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Arrow Financial Names Penko Ivanov As Chief Financial Officer Effective Feb. 22 - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2023\/02\/arrow-financial-names-penko-ivanov-as-chief-financial-officer-effective-feb-22\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Arrow Financial Names Penko Ivanov As Chief Financial Officer Effective Feb. 22 - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"Arrow Financial Corp. announced the appointment of Penko Ivanov, CPA, MBA, as chief financial officer, executive vice president, treasurer and chief accounting officer of Arrow and its two subsidiary banks, Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co., as well as its insurance subsidiary, Upstate Agency, LLC. 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