In a strategic effort with the purpose of strengthening their financial leadership, A+E Networks, the famous cable group that includes Lifetime, A&E Network and History Channel, has officially announced the promotion of David Bank as the new Chief Financial Officer (CFO). By making him a part of the main management the company shows its intent to smoothly get through all the changes in media industry environment and the processes that are taking place.
Bank will become the replacement for Art Vomvas who after 29 years at A+E Networks in finance and business planning teams including latter one as the interim CFO is retiring. Paul Buccieri, President and Chairman of A+E Networks Group, expressed his confidence in Bank’s abilities, stating, “With extensive leadership experience in media and finance, I am confident that in his new role as CFO, David will continue to help us effectively navigate the business landscape and position us to align and meet our goals in this rapidly changing environment.”
Directing a myriad of years of experience into this role, Bank has been with A+E Networks as the Executive VP and Chief Strategy & Development Officer for the last five years. Through this role, he had a crucial impact on the endeavor of the company to become a worldwide media house, with smart investments and capital-generating activities on the field. Buccieri commended Bank’s contributions, saying, “Since joining A+E Networks, David Bank has been a key leader, elevating our profile as a global media company through strategic investments and new revenue initiatives.”
As a new CFO, Bank is going to take responsibility for the financial functions of all the A+E divisions in the United States and worldwide. Among his duties will be an extensive array of financial tasks which include: strategic planning, analysis, risk management and capital allocation. Bank’s previous experience in the media and finance gives him a strong sense of the industry, leading him to understand its complexities and provide financial results aptly.
Prior to working for A+E in 2019, Bank was an Executive VP and Head of Investor’s Relations at CBS, adding more weights to his already impressive know-how business in the media field. In addition, he was in this role for 16 years working as an equity research analyst focusing on the media and entertainment sector at RBC, which helped him develop his financial analysis and market trends expertise.
Expressing his enthusiasm for the new role, Bank stated, “For the past five years, I have been proud to call A+E Networks my home and be part of one of the best content companies in the business. In taking on the role of CFO, I am thrilled to collaborate further with Paul and the executive team to help the company continue to excel and evolve during this time of transformation in our industry.”
With a increasingly fast-changing media space, A+E Networks’ strategic appointment of David Bank as CFO positions the company to handle the challenges and take advantage of the opportunities which may come along. Thanks to his profound media knowledge, experience and skills in finance and strategic management Bank is ready and able to become one of the most important persons behind the direction of a cable company which apart from its existing achievement also continues to grow.