Neilsons resign as CEO, COO at Patriot Bank

By Kevin Zimmerman

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Stamford-based Patriot Bank has named Chairman Michael Carrazza its interim CEO in the wake of the resignation of Ken Neilson. Carrazza, founder and CEO of investment management firm Solaia Capital Advisors and chairman of Siena Capital Finance, will serve without additional compensation until a replacement is named.

Neilson’s wife Susan, who served as COO, has also resigned, and will be replaced on an interim basis by Peter Cureau, managing principal and owner of consulting firm PD Cureau Advisors, based in Clifton Park, N.Y. Cureau served as president and CEO of Capital Bank and Trust in Troy, N.Y. from 2003 to 2010. He will receive an annual base salary of $300,000 as compensation for his service as interim officer.

In the 8-K form it filed with the SEC announcing the changes, Patriot noted that “There are no family relationships between Mr. Cureau, Mr. Carrazza and any of the company’s executive officers or directors.”

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