Hope Dmuchowski may be the top financial officer at First Horizon, but the narrative she tells clients and investors has been as important as the numbers as she guides the regional bank on its path.
Her communication efforts over the last year inspired confidence in First Horizon's stability following the termination of its merger with TD Bank and the regional banking crisis that marked 2023. First Horizon's stock surpassed the KBW Bank Index in 2024 by 33%.
"This was no small feat, and we continue to see these types of outcomes and forward momentum as we move through 2025," said Dmuchowski, who has been chief financial officer of the $82 billion-asset bank for nearly four years.
Dmuchowski also has been instrumental in generating the numbers behind the narrative. She oversees accounting functions, treasury operations and investor relations at First Horizon and, last year, added responsibility for banking data analytics and loan and deposit pricing.
By centralizing deposit pricing, for example, the bank was able to act quickly and consistently in the face of volatile interest rates and stiff competition. First Horizon also gave its bankers the freedom to price deposits outside of standard rates when necessary to bring in new clients or retain existing ones, Dmuchowski said.
"By remaining focused on smart decision-making, we achieved industry-leading reductions in deposit costs and improved risk metrics," she said.
In making improvements to bank operations, Dmuchowski leans on what she describes as a "change for the better" mindset. "This mindset helps me turn challenges into opportunities, guiding how I lead and make decisions as market conditions evolve," she said.
Dmuchowski also credits bank staff for embracing new processes and priorities. "Their ability to adapt, collaborate and find creative solutions has reinforced my deep sense of gratitude and pride in our team," she said. "What has stood out most is just how much we can accomplish when we stay focused on our clients and work together."
In the final quarter of 2024, meanwhile, Dmuchowski led efforts to reposition First Horizon's balance sheet. The moves spurred a projected $35 million annual increase in net interest income for 2025 and prompted ratings upgrades from Fitch and Moody's.
As a member of the Salvation Army National Board, Dmuchowski is helping to tackle homelessness, one of the most intractable challenges in the U.S. The nonprofit has seen both a rise in homelessness and, due to inflation, greater demand for food aid, she said. The Salvation Army served 166 million meals last year, up from 155 million the year before. And it provided more than 9 million nights in shelters, up from 8 million.
In May, Dmuchowski was the keynote speaker at the commencement for Saint Elizabeth University in Morristown, New Jersey, where she earned both a bachelor's degree in psychology and a master's degree in business management.
"It was an honor to return to campus to talk to the graduates and their families about how the university's scholarship gave me a chance to go to college when otherwise I could not afford to do so," said Dmuchowski, who created an endowment for first-generation college students.
