Management changes swept Hawaii's top financial institutions this week as First Hawaiian Bank tapped a Bank of Hawaii vice chairman to replace its president, who said he would retire early.
John K. Tsui, 56, resigned Thursday from $11.2 billion-asset Bank of Hawaii, Honolulu, to assume the post of president, chief operating officer, and director of the $6.1 billion-asset First Hawaiian Bank.
Late last year, Bancorp Hawaii, the parent of Bank of Hawaii, announced a line of succession for its chairman, H. Howard Stephenson, that effectively cut Mr. Tsui out of the top two spots in the company.
Mr. Tsui, who begins his new role at First Hawaiian next week, will be replaced as Bank of Hawaii's vice chairman in charge of domestic wholesale banking activities by Alton T. Kuioka.
Mr. Tsui will succeed John A. Hoag, 61, who is taking early retirement from First Hawaiian on April 1, 1995. Mr. Hoag cited increased responsibilities with the Mormon Church as his reason for leaving.
Mr. Hoag will continue as vice chairman of the board for First Hawaiian Bank and as president of the bank's parent company, First Hawaiian Inc., until his retirement.
Meanwhile, First Hawaiian also said that Donald G. Horner, 43, has been promoted to vice chairman of the retail banking group. He had been executive vice president of the retail banking group.
Mr. Tsui, who will start his new job next week, was unavailable to comment Thursday.
Norman Jaffe, a banking analyst with Fox-Pitt, Kelton, said Mr. Tsui's move doesn't signify any "meaningful changes" for Bancorp Hawaii or for First Hawaiian. "Mr. Tsui is a seasoned banker with a strong commercial lending background," he said. "I don't think the move comes as a big surprise."
Mr. Tsui came to Bank of Hawaii in 1984 after serving in various management capacities for several East Coast banks, including Bank of New York, Philadelphia International Bank, and Philadelphia National Bank.
Mr. Kuioka began his banking career with Bancorp Hawaii's lead bank, the Bank of Hawaii, as a management trainee and has held a variety of lending positions within the organization. He had been executive vice president and head of the corporate national division.