Trustmark taps insider as its next leader

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Trustmark in Jackson, Miss., has tapped an insider to become its next leader.

The $15.6 billion-asset company said in a press release Tuesday that Duane Dewey will succeed Gerard Host as president and CEO on Jan. 1. Host, who has been CEO since 2011, will remain chairman of Trustmark and Trustmark National Bank.

Dewey is the bank's president and chief operating officer.

“This announcement reflects a thoughtful and deliberate succession planning process” to “ensure a seamless transition of executive leadership,” Richard Puckett, Trustmark’s lead director, said in the release.

Host, who was 65 when Trustmark filed its proxy statement in March, has been with the company for 36 years.

Dewey, who was 61 when the proxy statement was filed, is a 35-year veteran of the industry, with 17 years at Trustmark. He became the bank’s chief operating officer in January 2019 and its president a year later.

“I am confident that he is well-equipped to lead the company and continue to build value for all of our stakeholders,” Host said of Dewey. “Duane is a well-respected leader who understands our organization, its markets and customer base.”

The company also said that Louis Greer will retire as treasurer and principal financial officer on March 1. Thomas Owens, who been the bank’s treasurer since 2013, will succeed Greer.

Trustmark is the third bank to announce CEO succession plans this week.

Crag Dahl stepped down as CEO of TCF Financial on Tuesday, while Texas Capital Bancshares said Rob Holmes, a JPMorgan Chase executive, will succeed interim CEO Larry Helm in January.

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