Capital Farm Credit Board Chairman John Malazzo recently announced the selection of Jeff Norte as CEO-Elect. Last September, current CEO Ben Novosad announced his intention to retire in 2021 after 35 years of leading the Association.
“We conducted a comprehensive national search, and got to know a number of outstanding candidates,” said John Malazzo, chairman of the Board of Directors for Capital Farm Credit. “It became clear to all of us that Jeff is absolutely the right person to build on the strong foundation we have in place. He is a seasoned leader with significant experience, and he has a solid command of our business, which will be key as we continue our strong momentum and positive growth trajectory.”
Capital Farm Credit set up for continued success
“We’re grateful to Ben for his many years of leadership,” added Malazzo. “His efforts have set us up for continued and long-term success. We’re equally excited about Jeff and the future of Capital Farm Credit under his leadership.”
Once a final transition date is determined, Novosad will move to a strategic consulting role to support the transition through September 2021.
“Ben has led the organization with a strong focus on serving our mission, and a vision of being the partner of choice through our people, performance and member value,” said Norte. “I share that focus and look forward to leveraging the strong foundation that he has built, leading a highly talented team, and I’m very optimistic about the future for Capital.”
“The strength of Capital Farm Credit has always been our people,” said Novosad. “It has been my honor and privilege to serve as CEO and lead this team over a long and rewarding career.”
“I’ve had the opportunity to work with Jeff over the years and I truly believe we share the same vision for this organization,” Novosad added. “I have no doubt that I will be leaving the Association in the most capable hands with Jeff, and I can’t wait to see the success that is sure to come.”
Norte provides extensive banking and risk experience
Norte has more than 30 years of banking and risk experience. He joined Capital Farm Credit in 2010, and has led the Credit, Special Assets Group, Risk, and Strategic Operations areas at the Association. He is active in Farm Credit system-wide initiatives, including the Farm Credit System (FCS) Risk Management Workgroup.
Before joining Capital, he spent five years with CoBank in Denver where he oversaw the credit department for Corporate Agribusiness Banking and International Trade Finance. Prior to that, he spent 14 years as a bank regulator with the FDIC in the Kansas City region after working for a bank in the Midwest for two years. Norte is a proud veteran having served in the Army at Fort Riley, Kansas.