Paul Simmons Joins Hankey Group as President and Chief Operating Officer
LOS ANGELES--(BUSINESS WIRE)--Paul Simmons has joined the Hankey Group of Companies as President and Chief Operating Officer, responsible for the growth and expansion of revenues, assets and profitability of all the Hankey Group companies, the firm announced.
“Our group of companies is currently at $4 billion in total assets, and Paul’s addition will help us maintain our current return on equity and keep our companies growing”
Prior to joining the Hankey Group, Mr. Simmons was Executive Vice President of Zions Bancorporation and Chief Credit Administrator for its real estate lending businesses. In addition, Simmons served as partner at Apollo Real Estate Advisors and as Managing Director at GE Capital. Mr. Simmons began his career with Citibank with domestic and international banking responsibilities.
"Our group of companies is currently at $4 billion in total assets, and Paul’s addition will help us maintain our current return on equity and keep our companies growing,” said Don Hankey, Chairman and CEO.
Simmons graduated from Brigham Young University and went on to earn his M.B.A. from the Simon School at the University of Rochester.
About Hankey Group: Hankey Group, headquartered in Los Angeles, California, is comprised of seven operating companies with 2,000 employees. Don Hankey founded six of the companies and purchased the seventh in 1988. Hankey Group and its seven subsidiaries, including Westlake Financial Services and Knight Insurance Group, comprise some of the most profitable, privately held finance and insurance companies in the United States. Hankey Group’s Total Assets is on track to reach $4 Billion by the end of 2014.
The Hankey Group companies strive to maintain an Average Annual Return on Equity, before tax, of 30%, and an Annual Net Income Growth Rate of 20%. Operating with low leverage has enabled it to realize record profit and expand its businesses dramatically since 2008.