Hannon Armstong has selected a candidate to replace cfo Brendan Herron, who is staying on with the firm in another role.

The sustainability-focused investor appointed Jeffrey Lipson as deputy cfo in January and he will take up the full position when Herron formally hands over on March 1.

Lipson was president and ceo of Bethesda, Md.-based Congressional Bank from 2012 to 2018. He began his banking career in 1993 with Credit Lyonnais, where he rose to v.p., structured finance, before moving to Bank of America in 1998 to become senior v.p., corporate treasury. In 2006, he joined CapitalSource in a similar position and spent six years there.

After stepping down as cfo, Herron will focus on the company’s expanded joint venture platforms, according to a Feb. 21 statement.

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