John T. Hayt, president and chief executive of Equicredit Corp., will be retiring from the finance company at the end of the year, its parent, Barnett Bank, announced. Mr. Hayt joined the company in 1965 and spearheaded Equicredit's growth from small Jacksonville-based lender to national finance company.
Last year, Equicredit originated more than $1 billion in loans, and ranked No. 9 among securitizers of nonconforming loan pools.
Jeffrey C. Larsen, the chief operating officer, who also held the title of president, will be replacing Mr. Hayt. Mr. Larsen joined Equicredit last year executive vice president from CIT Group/Consumer Finance Inc., where he was an executive vice president. He has 29 years of experience in banking and equity lending.