First Horizon Corporation Announces Departure of Chief Financial Officer William Losch

Rhea-AI Summary

First Horizon Corporation announced that its Chief Financial Officer, William “BJ” Losch, will leave for a new opportunity at Live Oak Bancshares, effective July 31, 2021. Chief Operating Officer Anthony Restel will serve as interim CFO during the search for a permanent successor. President and CEO Bryan Jordan praised Losch's contributions over 12 years while expressing confidence in Restel's expertise. As of March 31, 2021, First Horizon had $87.5 billion in assets and operates across 12 Southeast states, aiming to integrate its operations to enhance performance.

Positive

• Anthony Restel's appointment as interim CFO ensures continuity in leadership.
• Restel's prior experience as CFO of IBERIABANK adds strength to the interim role.
• First Horizon is recognized as a top employer, enhancing its reputation.

Negative

• Departure of a long-serving CFO may cause temporary uncertainty in financial leadership.

Anthony Restel to serve as interim Chief Financial Officer

MEMPHIS, Tenn., June 30, 2021 (GLOBE NEWSWIRE) -- First Horizon Corporation (NYSE: FHN or “First Horizon”) today announced that Chief Financial Officer William “BJ” Losch will be departing effective July 31, 2021, to pursue another opportunity at Live Oak Bancshares. Chief Operating Officer Anthony Restel will serve as interim CFO following Losch’s departure until a permanent successor is named.

“We are incredibly fortunate to have tremendous depth of talent across the combined organization,” said President and CEO Bryan Jordan. ”I am pleased to have Anthony, former IBERIABANK Chief Financial Officer, serve as our CFO on an interim basis while we conduct a thorough search. His expertise and familiarity with our culture and Company will help ensure that we have continued momentum toward integrating our two organizations and achieving our goal of becoming a top-performing regional bank.”

“BJ has made significant contributions to the First Horizon organization over the last 12 years. He has been instrumental in executing our growth strategy through times of great change and unprecedented headwinds. We will miss him, but we wish him well as he starts the next chapter in his career with an opportunity to move back to North Carolina.”

Restel currently serves as Chief Operating Officer for First Horizon, responsible for strategic initiatives, information technology, corporate operations, business transformation and corporate security. He will continue to play an integral role with integration activities. The Merger Project Office will continue to be led by merger executives Randy Bryan and Yousef Valine. Most recently, Restel served as Chief Financial Officer for IBERIABANK from 2006 to July 1, 2020, where he also presided over information technology, deposit operations, business transformation, and corporate security. He also served as IBERIABANK’S Chief Credit Officer from 2006 to 2009.

About First Horizon
First Horizon Corporation (NYSE: FHN), with $87.5 billion in assets as of March 31, 2021, is a leading regional financial services company, dedicated to strengthening the lives of our associates, clients, shareholders, and communities. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the Southeast. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. First Horizon is 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.
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CONTACT:	Investor Relations, Ellen Taylor, (901) 523-4450
	Media Relations, Beth Ardoin, (337) 278-6868

        

 

FAQ

Who is the interim CFO of First Horizon Corporation as of July 2021?

Anthony Restel is serving as interim Chief Financial Officer of First Horizon Corporation effective July 31, 2021.

Why is William Losch leaving First Horizon Corporation?

William Losch is departing to pursue another opportunity at Live Oak Bancshares.

What are the significant achievements of the outgoing CFO, William Losch?

William Losch contributed significantly to First Horizon's growth strategy over the past 12 years.

What assets did First Horizon have as of March 31, 2021?

As of March 31, 2021, First Horizon Corporation had $87.5 billion in assets.

How many states does First Horizon Bank operate in?

First Horizon Bank operates in 12 states across the Southeast.