MEMPHIS, Tenn., July 11, 2007 (PRIME NEWSWIRE) -- John O'Connor, chief credit officer of First Horizon National Corp. (NYSE:FHN) for 18 years, is nearing retirement age and is transitioning chief credit officer duties to Greg Olivier, 44, who has worked for the company since December 2003. O'Connor, 64, will continue full-time until at least the end of the year and will remain in a consulting role until May 2008.
"Three years ago we recognized that as our company grew, we needed to expand our credit risk infrastructure," said Jerry Baker, CEO of First Horizon. "John started with a complete review of our credit policies and a detailed succession plan. The result is a stronger credit risk organization and a changing risk profile brought about by growth and the business environment. In the face of a slowing economy and weakening housing market, our credit culture and lending practices are allowing us to maintain solid asset quality."
O'Connor, who has been with First Horizon for more than 36 years, said, "Greg brought almost 20 years of credit experience when he came to work here, and he's put that to good use, enhancing our credit risk management infrastructure so that it is positioned to support our growth. We now have managers in place with an average of 25 years of progressively responsible banking and credit experience who will preserve and nurture our strong credit culture."
About First Horizon
The 12,000 employees of First Horizon National Corp. (NYSE:FHN) provide financial services to individuals and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands -- FTN Financial, First Horizon and First Tennessee -- provide customers with a broad range of products and services including:
. Capital markets, one of the nation's top underwriters of U.S.
government agency securities
. Mortgage banking, one of the nation's top mortgage originators
and recipient of consecutive awards for servicing excellence
from Fannie Mae and Freddie Mac
. Retail/commercial banking, with the largest market share in
Tennessee and one of the highest customer retention rates of
any bank in the country
FHN companies have been recognized as some of the nation's best employers by AARP, Working Mother and Fortune magazines. FHN also was named one of the nation's 100 best corporate citizens by CRO magazine. More information can be found at www.fhnc.com.
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