Gregor Garry
About Gregor Garry
Gregor Garry is Executive Vice President and Chief Operating Officer at The Bancorp, Inc. and has served as COO since July 2019; he is age 41 and previously held roles including Deputy COO, Chief Risk Officer, Chief Audit Executive, and Vice President of Internal Audit since joining in October 2014 . He is a Certified Internal Auditor (CIA), a Certified Fiduciary and Investment Risk Specialist (CFIRS), and holds a certification in Risk Management Assurance; his academic background includes a BBA in economics and an MBA from the University of South Dakota . Company performance context under his operating tenure includes 2024 net income of $218M, ROE of 27%, ROA of 2.7%, and assets of ~$8.7B; Q2 2025 commentary cited 21% EPS growth year over year, 11% revenue growth, and maintained 2025 EPS guidance of $5.25 with “Project Seven” targeting a $7 EPS run rate by end of 2026 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Bancorp, Inc. | EVP, COO; previously Deputy COO; CRO; Chief Audit Executive; VP Internal Audit | Oct 2014–present; COO since Jul 2019 | Built the risk-based internal audit function; oversaw enterprise risk, third‑party risk, cybersecurity; managed regulatory affairs and remediation |
| The First National Bank in Sioux Falls | Internal Audit Manager and other capacities | Dec 2009–Oct 2014 | Internal controls and audit leadership in a regulated banking environment |
| Milo Belle Consultants | Senior Management Consultant | Jul 2007–Dec 2009 | Management consulting experience applicable to operations and process improvement |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | No external directorships disclosed for Garry | — | — |
No external board or committee roles are disclosed for Gregor Garry in the proxy or 8-K records .
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Base Salary | $350,000 (annual) | Set upon appointment as COO effective July 1, 2019 |
| Target Bonus % / Actual Bonus | Not disclosed | Company emphasizes discretionary bonuses based on performance; no guaranteed payouts |
| Perquisites | Limited | Company states executives receive only limited perquisites |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Return on Equity (ROE) | Not disclosed (used in scorecard) | Not disclosed | Company ROE 27% (FY2024) | Discretionary awards; pay-for-performance philosophy | RSUs typically vest 1/3 per year over 3 years; options vest 1/4 per year over 4 years |
| Return on Assets (ROA) | Not disclosed (used in scorecard) | Not disclosed | Company ROA 2.7% (FY2024) | Discretionary awards; pay-for-performance philosophy | See above vesting terms |
| Net Income | Not disclosed (used in scorecard) | Not disclosed | Company net income $218M (FY2024) | Discretionary awards; pay-for-performance philosophy | See above vesting terms |
Notes:
- The Company’s Compensation and Talent Committee utilizes a balanced scorecard with financial measures (ROE, ROA, net income) and risk controls; executive bonus/equity grants are discretionary and aligned with performance .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (shares) | Not disclosed for Garry in the 2025 beneficial ownership table; NEOs and directors listed exclude him |
| Ownership Guidelines | CEO: 3x salary; other executive officers: amounts set by Compensation Committee; 5 years to comply; all current executives and directors are in compliance as of proxy date |
| Hedging/Pledging | Prohibited for employees, executive officers, and directors |
| Vested vs. Unvested | Company RSUs typically vest 1/3 annually over 3 years; options vest 1/4 annually over 4 years (standard structure) |
| Equity Plan Mechanics (Change-in-Control) | Under Company’s equity plans, unvested RSUs become fully vested upon involuntary termination following a change in control; death/disability/retirement vest after one year; options have similar acceleration and post-termination exercise provisions |
Employment Terms
| Term | Detail |
|---|---|
| Start Date in Current Role | COO effective July 1, 2019 |
| Employment Agreement | Company generally does not enter into employment agreements with executive officers |
| Severance / Change-in-Control | No individual contract terms disclosed; equity plans provide acceleration and post-termination treatment for RSUs/options as summarized above |
| Clawbacks | Mandatory clawback (SEC/Nasdaq Section 10D) for restatements; discretionary clawback for misconduct or contribution to restatements (VP+ level) |
| Non-Compete / Non-Solicit | Not disclosed |
| Garden Leave / Consulting | Not disclosed for Garry |
Investment Implications
- Alignment and governance: Prohibitions on hedging/pledging, mandatory and discretionary clawbacks, and stock ownership guidelines (with stated compliance) point to high alignment and disciplined risk culture, reducing governance-related discount risk .
- Retention and selling pressure: With no employment agreement and a compensation program emphasizing discretionary equity grants, retention hinges on ongoing performance; standard RSU/option vesting schedules can create periodic supply from executive vesting, while change‑in‑control terms imply accelerated vesting that could increase event‑driven selling pressure .
- Execution risk: As COO responsible for operations, compliance, and risk, Garry’s tenure coincides with a business model shift toward a fintech platform; management is targeting productivity/AI gains and substantial buybacks supporting EPS targets, which elevates execution demands but also offers upside if delivered (EPS growth +21% YoY in Q2 2025; 2025 EPS guidance $5.25; target $7 run rate by end‑2026) .
- Benchmarking context: The compensation peer group includes fintech‑adjacent firms; peer updates reflect increasing operational complexity, suggesting potential upward pressure on competitive pay while maintaining risk controls via balanced scorecards and clawbacks .