First Horizon Names Jeffrey J. Brown, President of Hendrick Automotive Group, to its Board of Directors

Rhea-AI Summary

First Horizon (NYSE: FHN) has announced the election of Jeffrey J. Brown, 52, to its Board of Directors and First Horizon Bank Board of Directors. Brown currently serves as President of Hendrick Automotive Group, the largest privately held automotive group in the United States.

Brown recently retired as CEO of Ally Financial Inc. in January 2024, where he served for nine years. His previous roles include President and CEO of Dealer Financial Services, Executive VP of Finance and Corporate Planning, and Corporate Treasurer at Ally. He also served as Corporate Treasurer for Bank of America.

Bryan Jordan, Chairman, President and CEO of First Horizon, highlighted Brown's extensive financial services expertise and leadership experience in public companies as valuable assets. His connection to Charlotte, a key market for First Horizon, is seen as strategically important for the company's growth potential.

Positive

• Addition of experienced financial services executive with public company leadership
• Strategic connection to Charlotte market, identified as key growth area
• Brings expertise from leading the largest private automotive group in the US
• Extensive background in banking and financial services through Ally Financial and Bank of America roles

Negative

• None.

MEMPHIS, Tenn., Jan. 28, 2025 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") today announced the election of Jeffrey J. Brown ("JB"), 52, to the First Horizon Corporation Board of Directors and First Horizon Bank Board of Directors.

Brown is President of Hendrick Automotive Group, LLC, responsible for the auto operations of the largest privately held automotive group in the United States, headquartered in Charlotte, North Carolina.

He retired as Chief Executive Officer of Ally Financial Inc. in January 2024, after serving as Chief Executive Officer and a member of the board of directors for nine years. Since joining Ally in 2009, Brown held numerous leadership positions, including President and CEO of Dealer Financial Services, Executive Vice President of Finance and Corporate Planning and Corporate Treasurer. Prior to joining Ally (then GMAC), he served as Corporate Treasurer for Bank of America.

"JB's extensive expertise within the financial services sector, combined with his leadership experience in a publicly traded company, positions him as an invaluable asset to the Board and the company as a whole," remarked Bryan Jordan, Chairman, President and Chief Executive Officer of First Horizon. "As a distinguished business leader in Charlotte, JB also brings connectivity and a deep understanding of one of our key markets with tremendous growth potential. We look forward to capitalizing on his insights as we continue to build on our strong business momentum and execute on our strategic priorities."

First Horizon Lead Director Colin Reed added, "We are pleased to welcome JB to the First Horizon Board of Directors. As head of the largest private company within the highly competitive automotive sector, he has a keen understanding of the priorities of a client-centric organization and operating in evolving economic landscapes."

Brown received a bachelor's degree from Clemson University and an executive MBA from Queens University in Charlotte. He serves on the board of the Clemson University Foundation and, in June 2024, completed his service as the Board of Trustees chair of Queens University. He is a member of the Charlotte Executive Leadership Council and Executive Leadership Group of North Carolina. He currently serves on the Charlotte Sports Board and is a member of the executive committee. For four years, Brown also served as a member of the Federal Advisory Council, including his role as President in 2021.

About First Horizon

First Horizon Corp. (NYSE: FHN), with $82.2 billion in assets as of December 31, 2024, 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. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/first-horizon-names-jeffrey-j-brown-president-of-hendrick-automotive-group-to-its-board-of-directors-302361836.html

SOURCE First Horizon Corporation

FAQ

Who is the new board member appointed to First Horizon (FHN) in January 2024?

Jeffrey J. Brown, the current President of Hendrick Automotive Group and former CEO of Ally Financial, was appointed to First Horizon's Board of Directors.

What is Jeffrey Brown's previous experience before joining FHN's board?

Brown served as CEO of Ally Financial for nine years until January 2024, held various leadership positions at Ally since 2009, and previously served as Corporate Treasurer for Bank of America.

How does Jeffrey Brown's appointment align with FHN's strategic priorities?

Brown's appointment brings valuable financial services expertise, public company leadership experience, and strong connections to Charlotte, which is identified as a key growth market for First Horizon.

What positions will Jeffrey Brown hold at First Horizon (FHN)?

Brown will serve on both the First Horizon Board of Directors and First Horizon Bank Board of Directors.