HOUSTON and TUPELO,
Miss., March 29, 2024 /PRNewswire/ --
Cadence Bank (NYSE: CADE) today
announced changes to its organizational structure, as well as new
and increased responsibilities for several key executives, that
will build on the company's success, create efficiencies and
position it for future growth.
- Hank Holmes, chief
banking officer, has informed the company of his decision to pursue
outside opportunities in entrepreneurship, start-up ventures and
building organizations. Effective immediately, he will assume the
role of special advisor to the chief banking officer through
June 30, 2024. Holmes is an
exceptional leader, and the company is greatly appreciative of his
strategic value and many outstanding accomplishments.
- Sheila Ray, chief talent
officer, has announced her planned retirement from the company on
June 30, 2024. The company is
grateful for her long-standing commitment, exemplary leadership and
valuable contributions over the past two decades.
- Jerrell Moore will take
on the role of chief human resources and diversity officer on
May 1, 2024, and will become a member
of the company's Management Committee on June 30, 2024. Moore joined the company in 2023
as chief diversity officer, bringing extensive experience in human
resources and diversity with brands such as Google, Nike, Assurant,
Spectrum and Burger King, and a career dedicated to the people
space. The decision to incorporate the company's diversity, equity,
inclusion and belonging function within human resources aligns with
its overall strategic focus on talent development and
sustainability.
- Valerie Toalson, chief
financial officer, will maintain her current role and acquire
responsibilities for the company's Mortgage and Wealth Management
business lines, including Asset Management & Trust, Cadence
Investment Services, and Linscomb Wealth, a Cadence Bank subsidiary. Additionally, the
Financial Institutions Group will transition to Corporate Treasury,
joining the Alternative Investments and Foreign Exchange teams. The
realignment of these revenue-generating business lines follows the
retirement of Mike Meyer, former
senior executive vice president and president of banking services,
in December 2023. Toalson's proven aptitude for and
involvement in business strategy will support the continued growth
in these areas. With these changes, she will adopt the new title of
CFO and president, banking services.
- Chris Bagley will
continue as president, overseeing the company's Community Banking
and Technology & Operations teams, and accept the dual role and
title of chief credit officer. Bagley's extensive background in
credit provides the depth of understanding necessary to maintain
the company's high credit standards.
- Billy Braddock will
transition from chief credit officer to chief banking officer and
will remain a member of the company's Management and Executive
Management Committees. In this new role, he will continue to grow
and develop the company's Corporate Bank following the successful
operating model on which it was built. Braddock will also oversee
the Treasury Management and Private Banking divisions, which
deliver services important to its corporate clients.
- Cathy Freeman will remain
chief administrative officer with the added responsibility of
overseeing the company's Experience Office. Freeman will continue
to oversee the Corporate Communications, Corporate Facilities,
Internal Audit and Marketing divisions.
- Mary Katherine Franklin
will transition from private banking executive to chief credit
officer of the Corporate Bank, reporting to Chris Bagley.
Bagley, Braddock, Freeman, Moore and Toalson, along with
Shanna Kuzdzal, chief legal officer,
and Ty Lambert, chief risk officer,
will report directly to Chairman & CEO Dan Rollins. Jeff
Jaggers, chief operating officer, Brian Walhood, president of Community Banking,
Keith Vandersteeg, chief lending
officer, and Franklin will report to Chris
Bagley. Kevin McMahon, deputy
chief operating officer and chief information officer, will
continue to report to Jaggers. The changes take effect April 1, 2024, unless otherwise noted.
"I am committed to realizing our company's vision of helping
people, companies and communities prosper," said Dan Rollins.
"This organizational realignment afforded us the opportunity to
simplify our operating model and further the development of some of
our most senior leaders. The additional responsibilities will not
only empower these leaders, it will provide a foundation for
driving growth and efficiencies while strengthening our focus on
putting customers at the center of our business."
The new management structure streamlines the organization and
eliminates management layers to expedite decision making, enhance
accountability and further a laser-focused approach to client
relationships. Since the merger of legacy BancorpSouth Bank
and legacy Cadence Bank in
October 2021, the company's
Management Committee has been consolidated from 15 to 12
members.
"I could not be more encouraged for the future of Cadence Bank," added Rollins.
About Cadence Bank
Cadence Bank (NYSE: CADE) is a
leading regional banking franchise with approximately $50 billion in assets and over 350 branch
locations across the South and Texas. Cadence provides consumers, businesses
and corporations with a full range of innovative banking and
financial solutions. Services and products include consumer
banking, consumer loans, mortgages, home equity lines and loans,
credit cards, commercial and business banking, treasury management,
specialized lending, asset-based lending, commercial real estate,
equipment financing, correspondent banking, SBA lending,
foreign exchange, wealth management, investment and trust services,
financial planning and retirement plan management. Cadence is
committed to a culture of respect, diversity, inclusion and
belonging in both its workplace and communities. Cadence Bank, Member FDIC. Equal Housing
Lender.
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SOURCE Cadence Bank
