Search Begins for Successor to Retiring CTC President

Post a Comment » Written on December 14th, 2009     
Filed under: News
CHICAGO, IL (December 14, 2009) – A search process is under way to identify a candidate to succeed Charles Walles, president of Covenant Trust Company (CTC), who has announced his decision to retire at the conclusion of 2010.

“I still love what I do,” Walles says. “However, following a time of reflection and concerted prayer, I realized that above all, I want to finish well. I recognize that we are in a time of transition with the baby boomers entering retirement – we need leadership that is in tune with that generation to lead this change.”

Following 19 years with the trust company – 50 years of working overall – Walles describes this time of reflection and decision point in his life much like a sabbatical – “I need to see what God has in store for me in my next chapter of life.”

WallesThe search process will be under the direction of an eight-member committee, notes Evangelical Covenant Church (ECC) President Gary Walter, a committee member. In addition to Walter, members include Tom Sprague, Harold Spooner, Lars Anderson, Dean Lundgren, Mary Surridge, David Dwight, and David Parkyn.

The committee will work closely with the CTC Board of Directors to refine the job description and discuss directional matters relating to the work of the trust company. Plans call for interviews to take place in the spring with the expectation of having a recommended candidate to present to the ECC Annual Meeting next June.

The committee is accepting nominations for the position – a special email address ( has been created for receiving recommended names. Names also may be submitted by mail to CTC Search Committee, Evangelical Covenant Church, 5101 N. Francisco Avenue, Chicago, IL, 60625.

A more detailed job description will be posted to the ECC website ( once the committee has completed its review.

“Under Chuck’s gifted leadership, Covenant Trust Company has continued to expand its support of shared Covenant ministries through its work with donors and bequests coming from the multitude of estates they help manage,” Walter says. “While I understand and respect his decision to retire, I am going to miss his wise counsel in the Council of Administrators, though I look forward to continued opportunities to work with him.”

Walles joined Covenant Trust Company in 1991 as financial services representative for the Mid-America region. He was named vice president for marketing in 1995 and became president in 2001.

In addition to serving as chief executive officer, Walles is known for his workshops on financial and legacy planning topics. He continues to meet with clients, local ministry boards, Covenant pastors and conference superintendents, and serves as a member of the ECC Council of Administrators.

Before joining Covenant Trust Company, Walles served on the North Park University Board of Directors and served as chair of Plymouth Covenant Church in Plymouth, Minnesota. He currently serves as chair of Anchor Covenant Church in Lake Geneva, Wisconsin. He and his wife, Darlene, live in Spring Grove, Illinois, and have three children and five grandchildren.

A more detailed article on Walles and his contributions to the Covenant will be published later next year.

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