The Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh) announced the promotion of Chief Operating Officer David G. Paulson to CEO, effective Oct. 1.
Paulson replaces Winthrop Watson, who announced his retirement in April and will remain as an executive senior advisor through the end of the year.
Paulson joined the FHLBank Pittsburgh in 2010 as director of mortgage finance and balance sheet management, and he has served as chief operating officer since 2020. Prior to working at the FHLBank Pittsburgh, he worked nearly 14 years with National City Bank, rising to the level of senior vice president of derivative hedging and portfolio manager. Watson has led FHLBank Pittsburgh since 2011, after joining the organization in 2009 as chief operating officer. Earlier in his career, he was a managing director at JP Morgan.
“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.”