Encore Bank Hires Eric Movassaghi as CFO

Eric Movassaghi (Photo provided by Encore Bank)

Encore Bank of Little Rock on Wednesday named Eric Movassaghi as CFO.

Movassaghi follows Jeff Stevenson, who will assume the role of chief accounting officer.

Movassaghi brings more than 20 years of banking experience to his new role. He joins the bank from First National Bank of Louisiana, a Lafayette-based lender where he held the same title. Prior to that role, Movassaghi was part of IberiaBank’s finance team for 16 years, overseeing asset growth in the bank’s treasury department.

“Eric’s appointment is a reflection of Encore’s commitment to building a world-class leadership team to drive our growth and ambitious objectives,” Phillip Jett, CEO of Encore Bank, said in the release. “His expertise and vision will complement Jeff’s ongoing leadership in financial operations, ensuring that Encore remains financially robust and innovative as we scale our products and services.”

Movassaghi holds a degree in engineering from Duke University and an master’s in business administration from the A.B. Freeman School of Business at Tulane University in New Orleans.

“I appreciate the opportunity to partner with the team at Encore Bank to build something different,” he said in the release. “The team, culture and technological capabilities that Encore has built over a relatively short period of time is impressive, and I am excited to be a part of their vision.”

Stevenson will focus on financial reporting, accounting operations, compliance and internal controls in his new role.

Encore Bank has 19 location in seven states. The bank finished the third quarter of 2024 with $3.9 billion in total assets.