MEMPHIS, Tenn. /PRNewswire/ — First Horizon Corporation (NYSE: FHN or “First Horizon”) today announced that Thomas Hung, Executive Vice President, Head of Franchise Finance, will be named Senior Executive Vice President, Chief Credit Officer, effective October 1, 2024. Hung will succeed Susan Springfield, Senior Executive Vice President, Chief Credit Officer, who has served in this role since 2013.
Starting April 15, 2024, Hung will serve as Deputy Chief Credit Officer to begin the succession planning process and join the Executive Management Committee. Springfield will remain with the company until the end of the year to support the transition. Hung will report directly to Chairman, President and CEO Bryan Jordan and reside in Memphis, Tennessee.
“Tom’s background in leading one of the largest national financiers of franchisors, franchisees, independent chains and private equity sponsors in the restaurant industry positions him well to take on this critical leadership role,” said Bryan Jordan, Chairman, President and Chief Executive Officer of First Horizon. “With a wealth of credit experience and a proven track record of building strong client relationships, his expertise and integrity make him the perfect fit for this position. I have great confidence that under Tom’s leadership, we will continue to expand our high-quality client base within our operating philosophy of soundness, profitability and growth.”
Jordan continued, “Susan’s decision to retire is bittersweet. As a seasoned, highly regarded executive she has led us adeptly through a number of credit cycles, maintaining solid credit quality during her tenure. She has been a vital member of our executive management committee and mentor and role model to countless young professionals throughout her distinguished career. We are incredibly grateful for her steadfast leadership and her unwavering devotion to our team, the Memphis community and our clients. She will be greatly missed personally and professionally.”
“Our succession planning process will help ensure a seamless transition,” Jordan added. “Susan’s role as leader of our commercial banking team prior to 2013 prepared her for the Chief Credit Officer role just as Tom’s experience as head of one of our highly successful specialty groups has prepared him for this opportunity.”
Hung joined the company in 2019 and has over two decades of experience in the financial services industry. He previously served as Managing Director and Head of Sponsor and Chain Restaurants for Citizens Bank, where he built out a national chain restaurant lending platform for financing and syndicating sponsor-backed restaurant loans. Before that, Hung was with GE Capital Franchise Finance in various capacities across sales, capital markets, underwriting, and portfolio management, culminating his tenure as Senior Vice President and Head of Club Syndications. Other experience includes working as an investment banker with JPMorgan and Deutsche Bank, specializing in mergers and acquisitions, as well as equity private placements.
Hung holds a BS in Finance from Brigham Young University and an MBA from the Johnson Graduate School of Management at Cornell University. He is originally from Sydney, Australia.
Questions regarding this announcement will be addressed on First Horizon’s first quarter 2024 earnings call on April 17, 2024.
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About First Horizon
First Horizon Corp. (NYSE: FHN), with $81.7 billion in assets as of December 31, 2023, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
SOURCE First Horizon Corporation