WEST READING, PA — Customers Bancorp, Inc. (NYSE: CUBI) announced a major leadership transition set for January 1, 2026, as long-serving Chairman and CEO Jay Sidhu will step down from his role as chief executive. His son, Sam Sidhu, will assume the position of CEO while Jay Sidhu transitions to executive chairman of both Customers Bancorp and Customers Bank.
Jay Sidhu, 73, is widely recognized as a transformative figure in American banking. He founded Customers Bank by acquiring a small, struggling institution in Chester County, Pennsylvania, and steadily built it into a high-performing, innovation-driven national bank. Under his leadership, the bank grew from $200 million in assets to more than $22 billion—without major acquisitions. The company’s market capitalization surged from just $17 million to approximately $2 billion.
“I know I can scale back my day-to-day involvement with immense pride in what we’ve built and deep gratitude for the team, clients, and communities who place their trust in us,” said Jay Sidhu. “I look forward to continuing to provide strategic guidance as executive chairman.”
Prior to founding Customers, Sidhu spent two decades as the co-founder and CEO of Sovereign Bank, growing it from a $12 million IPO to the 17th-largest bank in the nation with a market cap near $12 billion. He delivered nearly 20% average annual returns to shareholders over that span.
Jay Sidhu’s successor, Sam Sidhu, 41, currently serves as president and CEO of Customers Bank and president of Customers Bancorp. He joined the company in 2020 as COO after eight years on its board, and was promoted to his current roles in 2021. Under Sam’s leadership, the bank has doubled its assets, embraced technology to modernize operations, expanded into new markets, and significantly enhanced its deposit base. Over the past five years, Customers Bancorp’s stock price has increased nearly fivefold.
“It is an honor to receive this vote of confidence,” said Sam Sidhu. “As Customers Bank turns this important page, one thing remains unchanged: our relentless commitment to the people we serve and the entrepreneurial spirit that has defined us since day one.”
Dan Rothermel, lead independent director of Customers Bancorp, praised the move: “We are thrilled with Sam’s leadership style and couldn’t be more pleased to have a thoughtful, strategic, and dynamic leader step into Jay’s shoes. Our best years are still ahead of us.”
Before joining the bank, Sam Sidhu founded Megalith Capital Management, a private equity firm focused on real estate. He also held positions at Providence Equity Partners and Goldman Sachs. He holds degrees from the Wharton School of the University of Pennsylvania and Harvard Business School.
The announcement marks a generational handoff of leadership within one of the country’s most dynamic banking institutions—one rooted in family values, client service, and forward-looking strategy.
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