Chase has appointed Todd Munson, former president of Chase in Kentucky, to replace Wayne Hutchens as head of its commercial-lending operations in Colorado.
Hutchens, 60, will continue as chairman before eventually moving on to other nonbanking-related ventures.
“I want to come out here and build on the foundation that Wayne has built on,” Munson said. “We have added some more resources.”
Chase also named Linda Mikutis Colorado credit executive for commercial banking on Wednesday. Mikutis, who has relocated from Chicago, will help the bank localize credit approvals out of Denver.
“It will remarkably speed up the process,” Hutchens said of Mikutis’ presence.
Chase, which acquired Bank One’s operations in Colorado, expects to add at least another 25 branches along the Front Range over the next two years, eventually giving it more than 100. The $40 million investment is expected to create 165 jobs.
Hutchens has been an active player on Denver’s civic scene, serving on the boards of the Denver Metro Chamber of Commerce, the Denver Museum of Nature & Science and the Colorado Forum. He took over Bank One operations in Colorado from Kenneth Charlton in 1999.
Munson, 49, said he is an empty- nester who will have the time to devote to civic causes in the city. He was active in the chambers of Louisville, Ky., and Cincinnati, another market he had supervised.
Chase is the state’s fifth-largest bank in terms of deposits, with a 5 percent market share as of June 30. Hutchens estimates the bank is the third-largest commercial lender in the state after Wells Fargo and U.S. Bank.
Staff writer Aldo Svaldi can be reached at 303-820-1410 or asvaldi@denverpost.com.
Other top bank executives in Colorado
Wells Fargo Bank
Tom Honig, regional president
Promoted: 2000
Colorado deposits: $12.4 billion
U.S. Bank
Mark Smith, market president
Promoted: 2003
Colorado deposits: $6.4 billion
FirstBank Holding Co.
John Ikard, president
Promoted: 1999
Colorado deposits: $6.4 billion*
KeyBank
Michael Hobbs, president, Colorado district
Promoted: September 2005
Colorado deposits: $2.2 billion
*As of Sept. 30. Other deposit data as of June 30.
