Hilltop Holdings in Dallas soon will have just one CEO.
The $10 billion-asset company said in a press release Monday that Alan White, its vice chairman and co-CEO, will retire on April 1. White, who started Hilltop unit PlainsCapital Bank in 1988, will also step down from the company’s board and other leadership roles.
Jeremy Ford, Hilltop's president and co-CEO, will lead the company. Jerry Schaffner will remain president and CEO of PlainsCapital.
Ford and White have served as co-CEOs since September 2016.
“It has been my privilege to lead PlainsCapital Bank for more than three decades as the organization grew from one branch in Lubbock to the fifth-largest Texas-based bank with locations across the state,” White, who was 69 when Hilltop filed its proxy statement in April, said in the release.
“My decision to retire was difficult, but it was made easier knowing that Hilltop’s leadership will carry on the powerful culture and legacy of success we have built over the past 31 years," White added. "Our company’s financial strength has us well-positioned for future growth, and I’m excited about the opportunities that lie ahead for Hilltop.”
PlainsCapital grew from $160 million in assets to about $10 billion during White’s tenure. He oversaw the bank's expansion into markets throughout Texas, as well as the acquisition of the mortgage originator PrimeLending and the broker-dealer First Southwest.
PlainsCapital was sold to Hilltop in 2012.
White "has been instrumental in building Hilltop Holdings into the organization that it is today,” Ford said in the release.
“He has been a mentor and a friend to me, along with countless other people throughout our family of companies and in the communities we serve," Ford added. "While we are sad to see him leave his role with the company, we are proud to carry on his legacy and remain forever grateful for the leadership he has provided for so many years.”
