Old National Bancorp appoints Matt Keen as CIO to enhance technology strategy during Midwest and Southeast expansion.
Quiver AI Summary
Old National Bancorp has appointed Matt Keen as Chief Information Officer, joining the Executive Leadership Team to oversee the company's technology strategy as it expands in the Midwest and Southeast. Keen brings over 30 years of technology leadership experience from major firms like American Express and Ameriprise Financial, most recently serving as CIO for Bremer Bank, which became part of Old National in May 2025. In his new role, Keen will focus on using technology to enhance client experiences, drive growth, and support the company's mission to build strong community ties. He succeeds Paul S. Kilroy, who retired after achieving significant advancements in the bank's technology capabilities. Old National Bancorp, a major Midwest bank, emphasizes long-term partnerships and has been recognized as one of the most community-minded companies in the U.S.
Potential Positives
- Appointment of Matt Keen as Chief Information Officer (CIO) underlines Old National's commitment to enhancing its technology strategy and capabilities.
- Keen's extensive experience in technology leadership positions, including roles in national companies, indicates strong potential for innovation and efficiency improvement within Old National.
- The transition in leadership comes at a key time for Old National, as the company is expanding into new regions, emphasizing the need for an advanced technology strategy to meet client expectations.
- Old National's recognition as one of "The Civic 50" showcases its commitment to community involvement and strengthens its brand reputation.
Potential Negatives
- The announcement of a new CIO comes with the retirement of the previous CIO, indicating potential leadership instability during a period of significant growth and strategic change.
- There is no mention of a transitional plan or how previous initiatives, like the partnership with Infosys that led to notable improvements, will be sustained under new leadership.
- The need for evolving technology strategies highlights potential inadequacies in the current systems or offerings, suggesting pressure to innovate rapidly to remain competitive.
FAQ
Who is the new Chief Information Officer of Old National Bancorp?
Matt Keen has been appointed as Chief Information Officer (CIO) of Old National Bancorp.
What experience does Matt Keen bring to Old National?
Keen brings over three decades of technology leadership experience from national companies, including roles at Ameriprise Financial and Bremer Bank.
What is the focus of Matt Keen's technology strategy?
Keen's strategy emphasizes innovation, leveraging technology, data, and analytics to enhance client and team member experiences.
Who did Matt Keen succeed at Old National?
Keen succeeds Paul S. Kilroy, the previous Chief Information Officer, who retired after joining Old National in 2020.
What awards has Old National Bancorp received recently?
In 2025, Old National was named one of "The Civic 50," highlighting its community-minded initiatives.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ONB Insider Trading Activity
$ONB insiders have traded $ONB stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.
Here’s a breakdown of recent trading of $ONB stock by insiders over the last 6 months:
- MARK G SANDER (PRESIDENT AND COO) has made 0 purchases and 2 sales selling 67,343 shares for an estimated $1,491,333.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$ONB Hedge Fund Activity
We have seen 182 institutional investors add shares of $ONB stock to their portfolio, and 180 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FMR LLC added 23,428,539 shares (+1235.0%) to their portfolio in Q1 2025, for an estimated $496,450,741
- CITADEL ADVISORS LLC removed 4,022,187 shares (-58.6%) from their portfolio in Q1 2025, for an estimated $85,230,142
- MILLENNIUM MANAGEMENT LLC removed 3,489,966 shares (-72.8%) from their portfolio in Q1 2025, for an estimated $73,952,379
- BALYASNY ASSET MANAGEMENT L.P. added 2,035,492 shares (+889.5%) to their portfolio in Q1 2025, for an estimated $43,132,075
- UBS GROUP AG added 1,830,648 shares (+116.7%) to their portfolio in Q1 2025, for an estimated $38,791,431
- FIRST TRUST ADVISORS LP added 1,617,914 shares (+71.2%) to their portfolio in Q1 2025, for an estimated $34,283,597
- EXODUSPOINT CAPITAL MANAGEMENT, LP removed 1,549,822 shares (-79.5%) from their portfolio in Q1 2025, for an estimated $32,840,728
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$ONB Price Targets
Multiple analysts have issued price targets for $ONB recently. We have seen 2 analysts offer price targets for $ONB in the last 6 months, with a median target of $23.5.
Here are some recent targets:
- David Chiaverini from National Bank set a target price of $24.0 on 05/20/2025
- Jon Arfstrom from RBC Capital set a target price of $23.0 on 04/23/2025
Full Release
MINNEAPOLIS and ST. PAUL, Minn., July 01, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: ONB) – Old National Bancorp (“Old National”) has appointed Matt Keen as Chief Information Officer (CIO). In this role, Keen will join Old National’s Executive Leadership Team – the company’s senior-most group of C-suite executives.
Keen brings more than three decades of experience in significant technology leadership roles at national companies, including leading architecture development, as well as experience with brokerage and banking services, cloud service optimization, and platform modernization.
“As Old National continues our Midwest and Southeast expansion, our technology strategy and capabilities are also evolving to continue meeting our ever-growing clients’ needs and expectations,” said Old National Chairman & CEO Jim Ryan. “Matt’s wide-ranging technology expertise will be essential for helping us innovate and deliver client-focused solutions, while also supporting the personal relationships that have always been the heart of our success.”
Keen’s previous technology leadership experience included consulting with American Express as part of his tenure at PriceWaterhouseCoopers, almost 15 years at Ameriprise Financial (formerly a division of American Express), and six years at Two Harbors Investments. Most recently, he served as CIO for Bremer Bank, which became a division of Old National Bank on May 1, 2025.
As Old National’s CIO, Keen will lead a forward-thinking approach to leveraging technology as an enabler for business success. He will shape and execute the company’s technology strategy, working closely and collaboratively with all aspects of the business to identify ways to increase efficiencies and drive growth. With a particular emphasis on innovation, Keen and his team will use technology, as well as data and analytics, to effectively support and enhance the client and team member experience, to meet their ever-evolving expectations.
“I’m looking forward to continuing to advance the strong technology foundation that has enabled Old National to achieve its growth goals,” Keen said. “Through a collaborative approach and intense focus on our clients, we’ll bring forward the best technology capabilities to serve the business and support the culture that our team members, clients, and communities expect and appreciate.”
A resident of Chanhassen, Minn., Keen holds a degree in quantitative methods and computer science from the University of St. Thomas.
Keen succeeds retiring Chief Information Officer Paul S. Kilroy, who joined Old National in 2020. During his tenure, Kilroy spearheaded a groundbreaking partnership with Infosys that vastly improved contact center quality and stabilized information quality metrics across the organization, leading to a 2024 “Tech Exec of the Year” honor from the Indianapolis Business Journal.
ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank. As the fifth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $70 billion of assets and $37 billion of assets under management (including Bremer Financial Corporation on a pro forma basis as of March 31, 2025), Old National ranks among the top 25 banking companies headquartered in the United States. Tracing our roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities we serve. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com. In 2025, Points of Light again named Old National one of "The Civic 50" -- an honor reserved for the 50 most community-minded companies in the United States.
Investor Relations:
Lynell Durchholz
(812) 464-1366
[email protected]
Media Relations:
Rick Vach
(904) 535-9489
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5d64d8b1-0fab-4151-8bd2-c21133a36465
