Cadence Bank Announces Simplified Organizational Structure and Expanded Roles for Key Executives from Investing.com

HOUSTON E TUPELO, miss., March 29, 2024 /PRNewswire/ — Cadence bank (NYSE: FALLS) today announced changes to its organizational structure, as well as new and expanded responsibilities for several key executives, that will build on the company’s success, create efficiencies and position it for future growth.

• Hank Holmes, banking director, informed the company of his decision to pursue external opportunities in entrepreneurship, start-ups and construction organizations. Effective immediately he will assume the role of special advisor to the chief banking officer June 30, 2024. Holmes is an exceptional leader and the company highly values ​​his strategic value and exceptional results.
• Sheila RayChief Talent Officer, has announced his planned retirement from the company June 30, 2024. The company is grateful for his long-standing commitment, exemplary leadership and valuable contributions over the past two decades.
• Jerrell Moore will assume the role of head of human resources and diversity May 1, 2024and will become a member of the society 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 (NASDAQ:), Nike (NYSE:), Insurer (NYSE:), Spectrum and Burger King, and a career dedicated to the people space. The decision to embed the company’s diversity, equity, inclusion and belonging functions within HR aligns with its overall strategic focus on talent development and sustainability.
• Valerie ToalsonChief Financial Officer, he will retain his current role and gain responsibility for the company’s Mortgage and Wealth Management business lines, including Asset management and trustCadence Investment Services and Linscomb Wealth, a Cadence bank branch. Furthermore, the Financial Institutions Group will move to corporate Treasury, joining the alternative investments and foreign exchange teams. The realignment of these revenue-generating lines of business follows the retirement of Mike Mayerformer senior executive vice president and president of banking services, in December 2023. Toalson’s proven aptitude and involvement in corporate strategy will support continued growth in these areas. With these changes he will adopt the new title of CFO and president of banking services.
• Chris Bagley He will continue to serve as president, overseeing the company’s Community Banking and Technology & Operations teams, and will accept the dual role and title of Chief Credit Officer. Bagley’s extensive credit experience provides the depth of knowledge needed to maintain the company’s high credit standards.
• Billy Braddock will transition from Chief Credit Officer to Chief Banking Officer and 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 Corporate Bank following the successful operating model on which it was built. Braddock will also oversee the Treasury Management and Private Banking divisions, which provide important services to its corporate clients.
• Cathy Freemann he will remain chief administrative officer with the additional 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 move from private banking executive to chief credit officer of Corporate Bankreport to Chris Bagley.

Bagley, Braddock, Freeman, Moore and Toalson, together with Shanna Kuzdzallegal director e Ty LambertChief Risk Officer, will report directly to the President and CEO Dan Rollins (NYSE:). Jeff JaggersChief Operations Officer, Brian Walhoodpresident of Community Banking, Keith Vandersteegchief 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, 2024unless otherwise stated.

“I am committed to realizing our company’s vision of helping people, businesses and communities thrive,” said Dan Rollins. “This organizational realignment has given us the opportunity to streamline our operating model and help develop some of our most senior leaders. The additional responsibilities will not only empower these leaders, but provide a foundation to drive growth and efficiency, while strengthening our focus on putting customers at the center of our business.”

The new management structure simplifies the organization and eliminates layers of management to accelerate decision making, increase accountability and promote a focused approach to customer relationships. Since the merger between Legacy BancorpSouth Bank and Legacy Cadence bank inside October 2021the company’s Management Committee has been consolidated from 15 to 12 members.

“I couldn’t be more encouraged about the future Cadence bank“Rollins added.

From Cadence bank

Cadence bank (NYSE: FALLS) is a leading regional banking franchise with approx $50 billion in assets and over 350 branches across the South and Texas. Cadence offers consumers, businesses and corporations a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer lending, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialty lending, asset-based lending, commercial real estate, home equity financing, equipment, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning and retirement plan management. Cadence is committed to promoting a culture of respect, diversity, inclusion and belonging in both the workplace and communities. Cadence bank, Member of the FDIC. Equal real estate lender.