Eric Itambo appointed as CoBank President and Chief Banking Officer
DENVER (January 24, 2025) — CoBank, a cooperative bank serving agribusinesses, rural infrastructure providers and Farm Credit associations throughout the United States, today announced that Eric Itambo has been appointed as President in addition to his role as Chief Banking Officer.
“Since joining the bank in 2018, Eric has overseen a substantial transformation of our banking organization that has delivered six consecutive years of remarkable financial performance and earnings growth,” said Thomas Halverson, CoBank’s Chief Executive Officer. “Under his leadership, we have significantly diversified sources of operating revenue and strengthened our market position in every key sector we finance. I am deeply grateful to Eric for the quality of his leadership and for the momentum he and his leadership team have generated for our business.”
In his new role, Itambo will have primary responsibility for CoBank’s commercial banking franchise and strategies, banking products and services, capital markets relationships, Farm Credit Banking and the bank’s corporate sustainability program. He will continue to report to Halverson and serve on the bank’s Management Executive Committee.
Prior to joining CoBank, Itambo was managing director, and U.S. head of Commercial Lending Management, for Citigroup’s Global Consumer and Commercial Banking Group. Over 20 years with Citigroup, Itambo built extensive experience in corporate and investment banking, commercial business banking and commercial real estate finance businesses, including risk and portfolio management. A Rhodes Scholar, Itambo earned an MBA in economics and finance from the University of Oxford, and a bachelor’s degree with First Class Honors in agricultural engineering from Egerton University in Kenya.
“I am grateful for the opportunity to continue serving the needs of our customers and supporting CoBank’s mission of service across rural America,” Itambo said.
CoBank will be launching a national search for a new Chief Banking Officer, who will report to Itambo and oversee CoBank’s banking divisions. Itambo will serve as both President and Chief Banking Officer until the new CBO is identified.
About CoBank
CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 77,000 farmers, ranchers and other rural borrowers in 23 states around the country. CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.