Trustmark Corp. of Jackson, Miss., has named Richard G. Hickson to succeed its ailing chairman as president and chief executive officer.
The $5.2 billion-asset holding company hired Mr. Hickson from SouthTrust Bank of Georgia, where he was president and chief operating officer.
Mr. Hickson, who began working at Trustmark on Tuesday, was selected after a months-long search.
Frank R. Day, who had been Trustmark's president and CEO as well as chairman since 1988, is suffering from a muscle disorder. He will remain chairman of the holding company and the lead bank.
Mr. Hickson also assumed the titles of vice chairman and chief executive officer of Trustmark National Bank, the principal banking subsidiary.
"Richard Hickson has the experience and understanding the board has been seeking to complement our existing management team to bridge us into the next century," Mr. Day said.
Kathryn H. Bissette, an analyst with Sterne, Agee & Leach Inc., said Mr. Hickson's hiring might help reenergize Trustmark, which has been a solid financial performer but not particularly aggressive in pursuing deals.
"They have not been as aggressive as the other Mississippi banks in terms of out-of-market or out-of-state acquisitions," she said.
Mr. Hickson said growth is on his agenda, as is strengthening the sales culture and continuing the record of strong performance.
"This is a super opportunity for me to put to use 26 years of experience," said Mr. Hickson. "The bank is now, and is going to be, a strong competitor."
As president of Atlanta-based SouthTrust of Georgia, a unit of SouthTrust Corp. of Alabama, Mr. Hickson managed an operation that included more than 100 branches and assets of about $5.7 billion. Because of his sudden departure-Mr. Hickson re-signed late last week-South-Trust has not named anyone to replace him.
Mr. Hickson, who began his career in Atlanta in 1971 with Citizens & Southern National Bank, joined SouthTrust two years ago after spending most of his career in Texas.
From 1978 to 1985, he held various positions with Texas Commerce Bancshares, Houston, including executive vice president responsible for banking divisions.
In 1986 he became chairman and chief executive officer of $1.2 billion- asset Texas Commerce Bank in El Paso.
From 1993 to 1995, he was president of $4 billion-asset Texas Commerce Bank in Dallas, responsible for all aspects of commercial, small-business, and retail banking.
