DALLAS--(BUSINESS WIRE)--To continue delivering on its long-term vision to build a premier, diversified financial services company, Dallas-based Hilltop Holdings Inc. (NYSE: HTH) today announced that Jeremy B. Ford and Alan B. White have been named co-CEOs. Jeremy B. Ford was previously sole CEO and president of Hilltop Holdings, while Alan B. White was vice chairman of Hilltop Holdings and CEO of PlainsCapital Corporation, a Hilltop subsidiary. Mr. Ford will be president and co-CEO and Mr. White will be vice chairman and co-CEO of Hilltop Holdings.
Announcing the change, Jeremy Ford said, “This is an exciting time in Hilltop Holdings’ history. After 36 months of extensive acquisitions, integrations, and organic growth since our initial PlainsCapital Corporation acquisition, we are making strategic changes to our executive roster and organizational platform to position our company for future success. The new Hilltop company structure provides leadership for the entire organization, promotes consistency and accountability, focuses on our strengths and supports a more coordinated and cohesive long-term growth strategy. Alan and I are committed to working together to take Hilltop to the next level.”
As co-CEOs, Ford and White have the joint mission of driving Hilltop’s next phase of growth. White will oversee Hilltop’s revenue generating operations comprised of PlainsCapital Bank, PrimeLending, Hilltop Securities Inc. and National Lloyds Corporation. Ford will oversee Hilltop’s corporate functions, including: accounting and finance; risk and compliance; legal; corporate development; and corporate administrative areas.
In conjunction with these leadership moves, Hilltop’s wholly owned subsidiary, PlainsCapital Corporation, the holding company for operating entities PlainsCapital Bank and PrimeLending, will be fully integrated into the Hilltop Holdings parent to create a single, unified holding company for the entire organization.
“Hilltop is entering a new era of success,” said White. “I look forward to working with Jeremy as we focus on creating a platform that supports the operations of our subsidiary companies, enabling them to do what they do best and focus on revenue generation and growth. We intend to make these strategic changes without impacting the way we do business or affecting the unique, relationship-based corporate culture that drives our success.”
“We are laying the groundwork for the next chapter of Hilltop Holdings,” said Ford. “By separating functional-level and business-level decision-making, we’ll make our company even more effective, allowing us to accomplish our goals in the most productive way possible.”
Additional leadership announcements for Hilltop Holdings include the recent hiring of former KeyCorp executive William B. Furr, who was named chief financial officer, and the move of Darren E. Parmenter to chief administrative officer. Parmenter previously served as Hilltop’s principal financial officer. With the integration of PlainsCapital Corporation into Hilltop Holdings, PlainsCapital Corporation’s former president and COO James R. Huffines has moved to chief operating officer for subsidiaries for Hilltop Holdings. In addition, John A. Martin, former CFO of PlainsCapital Corporation, has been named chief accounting officer of Hilltop Holdings.
About Hilltop Holdings
Hilltop Holdings is a Dallas-based financial holding company. Through its wholly owned subsidiaries PlainsCapital Bank and PrimeLending, it provides regional commercial banking services and national residential mortgage origination. Through its wholly owned subsidiaries Hilltop Securities Inc. and Hilltop Securities Independent Network Inc., it provides a full complement of securities brokerage, institutional and investment banking services in addition to clearing services and retail financial advisory. Through Hilltop Holdings’ other wholly owned subsidiary, National Lloyds Corporation, it provides property and casualty insurance through two insurance companies, National Lloyds Insurance Company and American Summit Insurance Company. At June 30, 2016, Hilltop employed approximately 5,400 people and operated approximately 450 locations in 44 states. Hilltop Holdings' common stock is listed on the New York Stock Exchange under the symbol "HTH." Find more information at Hilltop-Holdings.com, PlainsCapital.com, PrimeLending.com, Nationallloydsinsurance.com and HilltopSecurities.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated in such statements. Forward-looking statements speak only as of the date they are made and, except as required by law, we do not assume any duty to update forward-looking statements. Such forward-looking statements include, but are not limited to, statements concerning such things as our business strategy, our financial condition and our efforts to make strategic acquisitions. For a discussion of factors that may cause our results, performance or achievements to be materially different, see the risk factors described in the Hilltop Annual Report on Form 10-K for the year ended December 31, 2015 and other reports filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement.