MEMPHIS, Tenn., Nov. 15, 2005 (PRIMEZONE) -- First Horizon National Corp. (NYSE:FHN) Chairman and CEO Ken Glass, 59, today announced several key executive changes intended to enhance the company's execution of its strategic plan, including focus on national expansion goals and market share leadership in Tennessee.
Jerry Baker, 62, has been appointed by First Horizon's board of directors as chief operating officer. He will be responsible for all of First Horizon's business lines and operations. Baker has been serving as First Horizon's president of national financial services, leading the company's national expansion strategy, which included national banking, mortgage and related areas.
Charles Burkett, 54, has been appointed president of Tennessee and national banking. He will be responsible for First Horizon's national bank expansion and Tennessee banking. Burkett was president of First Tennessee financial services, in charge of First Horizon's flagship bank in Tennessee.
Sarah Meyerrose, 49, has been appointed executive vice president of operations and technology, with responsibility for all business line support functions including technology, operations and servicing, corporate real estate and procurement, call centers and employee services. In addition, Meyerrose will lead a corporate-wide efficiency and effectiveness initiative.
Pete Makowiecki, 45, will become president of mortgage banking and CEO of First Horizon Home Loan Corp., replacing Baker in overseeing the mortgage banking unit as well as national consumer and construction lending, critical components for national expansion. Makowiecki will continue as chief financial officer for First Horizon Home Loans until a replacement is named.
FTN Financial, FHN's third major business line in addition to retail/commercial banking and mortgage, continues to be led by Jim Hughes, 63, president of FTN Financial, and Mark Medford, 45, that unit's chief operating officer. FTN Financial engages in a wide range of capital market activities nationally and supports correspondent banking relationships.
Glass said, "We believe we have in place the leadership and accountability that will help us achieve our efficiency objectives in the short and long term, solidify our leadership position in Tennessee, expand our retail and commercial banking businesses nationally and continue to be a national player in mortgage banking and capital markets."
Commenting on his new responsibilities, Baker said, "We have proven we can attract high-performing employees in all areas, particularly our sales and support teams. In addition, we have grown both our Tennessee and national businesses, making us confident of our strategic direction. We will continue our plan of disciplined growth and remain focused on our core values, which lead to greater profitability and enhanced shareholder value."
About First Horizon National Corporation
The 13,000 employees of First Horizon National Corp. (NYSE:FHN) provide financial services to individuals and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands -- FTN Financial, First Horizon and First Tennessee -- provide customers with a broad range of products and services including:
-- Capital markets, one of the nation's top underwriters of
U.S. government agency securities
-- Mortgage banking, one of the nation's top 20 mortgage
originators and top 15 servicers, which earned a top-10
ranking in customer satisfaction from J.D. Power and
Associates
-- Retail/commercial banking, with the largest market share
in Tennessee and one of the highest customer retention rates
of any bank in the country
FHN companies have been recognized as some of the nation's best employers by AARP, Working Mother and Fortune magazines. FHN also was named one of the nation's 100 best corporate citizens by Business Ethics magazine. More information can be found at www.fhnc.com.