Allegiance in Texas taps insider as next CEO

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Allegiance Bancshares in Houston will have a new CEO in 2020.

The $4.9 billion-asset company said in a press release Friday that Steven Retzloff, 63, will succeed George Martinez, 77, on Jan. 1. Martinez will remain Allegiance’s chairman.

Retzloff, Allegiance’s president, will continue to serve as chairman of Allegiance’s bank. Martinez will become the bank’s vice chairman as part of the succession.

Ramon Vitulli III, president of Allegiance’s bank, will succeed Retzloff as the company’s president. He will also become CEO and chief operating officer of the bank.

Okan Akin, Allegiance’s chief risk officer, will become the bank’s president, succeeding Vitulli.

Martinez and Retzloff founded Allegiance in 2007.

“With the company in a strong financial position and with its outstanding culture and people in place, this is the right time for Allegiance to move forward with the next step in the succession plan we established 12 years ago,” Martinez said in the release.

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