American Banker names Two First Horizon Leaders to the 2024 The Most Powerful Women in Banking™ List

Rhea-AI Summary

First Horizon Corp. (NYSE: FHN) announces that two of its leaders, Chief Financial Officer Hope Dmuchowski and Chief Operating Officer Tammy LoCascio, have been named to American Banker's 2024 Most Powerful Women in Banking list. Dmuchowski led efforts to reengage investors after a terminated merger, resulting in a 45% stock price rebound and 4% deposit increase. LoCascio implemented a $100 million technology strategy and improved employee compensation. Both leaders are recognized for their contributions to the company, commitment to empowering women, and advancing diversity in financial services.

Positive

• 45% stock price rebound and 4% deposit increase after reengaging investors
• $100 million investment in technology strategy to enhance business operations
• Increased minimum wage and implemented company-wide incentive program
• Recognition of two top executives in American Banker's Most Powerful Women in Banking list

Negative

• Termination of a $13 billion merger agreement

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MEMPHIS, Tenn., Oct. 1, 2024 /PRNewswire/ -- First Horizon Corp. (NYSE: FHN or "First Horizon") is pleased to announce two of its leaders have been named American Banker's Most Powerful Women in Banking. This year Chief Financial Officer Hope Dmuchowski and Chief Operating Officer Tammy LoCascio are among the honorees. The annual list recognizes extraordinary accomplishments of female executives in banking and finance.

Among many notable accomplishments in 2023, Dmuchowski rose to the challenge following the termination of a $13B merger agreement during a tumultuous operating environment. She led efforts to reengage with investors to reiterate the company's position of strength, stability and ability to achieve business momentum. Within 30 days, the team hosted numerous client and investor meetings and held an Investor Day contributing to a stock price rebound of more than 45% and an increase in deposits of 4% in 45 days of which 90% were retained through the year. Dmuchowski is passionate about creating environments and opportunities for women to advance and inspires young leaders through her mentorship and volunteer efforts. She will lead a panel discussion at this year's Most Powerful Women in Banking Conference.

Charged with the responsibility of advancing the company's technological capabilities and operational effectiveness, LoCascio and her team created a transformational technology strategy in 2023, deploying an additional $100 million to accelerate technological capabilities. The investments in emerging technology have created tangible, economical value for the company and have measurably enhanced how the bank conducts business. Under her leadership, the company also increased its minimum wage multiple times and implemented a program in which every associate participates in an incentive or bonus program tying their contribution to the company's performance. She is passionate about supporting women in the workplace through leadership and development programs as well as ensuring all women have access to affordable health insurance options. 

"Hope and Tammy are exceptional leaders and are committed to excellence, innovation and empowering others to reach their full potential," said Bryan Jordan, Chairman, President and CEO of First Horizon. "We greatly appreciate their contributions to our company and our community and are proud of their recognition among such a prestigious group of industry leaders."

American Banker's The Most Powerful Women in Banking™ initiative recognizes individuals and teams for demonstrating exceptional leadership skills, strong business performance and a commitment to driving real outcomes for diversity, equity and inclusion in financial services.

"This year's rankings feature longtime honorees ascending to new heights, showcasing the advancement that this program has celebrated for over two decades," says Chana Schoenberger, Editor-in-Chief of American Banker. "We're also welcoming newcomers, which proves that with perseverance comes progress. It hasn't been an easy year for banks and financial institutions, but progress continues — not by chance, but through the determined efforts of these women."

About First Horizon
First Horizon Corp. (NYSE: FHN), with $82.2 billion in assets as of June 30, 2024, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

About American Banker
American Banker empowers banking professionals with unique analysis and insight into the ideas transforming their business and industry. Across its journalism, events, research and benchmarking, it helps drive the way forward through the complexity of business innovation, retail and commercial disruption, technology, regulation, and reform. With a banking community 850K strong, American Banker's transformative content connects leaders online, in person and in print every day.

 

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SOURCE First Horizon Corporation

FAQ

Who from First Horizon (FHN) was named to American Banker's 2024 Most Powerful Women in Banking list?

Chief Financial Officer Hope Dmuchowski and Chief Operating Officer Tammy LoCascio from First Horizon (FHN) were named to American Banker's 2024 Most Powerful Women in Banking list.

What significant financial achievement did First Horizon (FHN) report after reengaging investors in 2023?

First Horizon (FHN) reported a stock price rebound of more than 45% and an increase in deposits of 4% within 45 days after reengaging investors in 2023.

How much did First Horizon (FHN) invest in its technology strategy in 2023?

First Horizon (FHN) deployed an additional $100 million to accelerate technological capabilities as part of its transformational technology strategy in 2023.

What employee benefit changes did First Horizon (FHN) implement under Tammy LoCascio's leadership?

Under Tammy LoCascio's leadership, First Horizon (FHN) increased its minimum wage multiple times and implemented a company-wide incentive or bonus program tied to the company's performance.