Alan B. White, co-CEO and vice chairman of Dallas-based Hilltop Holdings Inc. (NYSE: HTH) will retire April 1, the company announced Feb. 22.
White will step down from Hilltop Holdings’ board of directors and his other leadership roles with Hilltop and PlainsCapital Bank.
White founded Hilltop’s banking subsidiary, PlainsCapital Bank, in 1988 and has served as co-CEO of Hilltop Holdings with President Jeremy B. Ford since September 2016. Ford will continue in his role as president and serve as the company’s sole CEO following White’s retirement. Jerry L. Schaffner will continue to lead PlainsCapital Bank as president and CEO. There are no additional leadership changes associated with White’s retirement.
“It has been my privilege to lead PlainsCapital Bank for more than three decades as the organization grew from one branch in Lubbock to the fifth largest Texas-based bank with locations across the state,” White said. “My decision to retire was difficult, but it was made easier knowing that Hilltop’s leadership will carry on the powerful culture and legacy of success we have built over the past 31 years. Our company’s financial strength has us well-positioned for future growth, and I’m excited about the opportunities that lie ahead for Hilltop.”
“Alan White has been instrumental in building Hilltop Holdings into the organization that it is today,” Ford said. “He has been a mentor and a friend to me, along with countless other people throughout our family of companies and in the communities we serve. While we are sad to see him leave his role with the company, we are proud to carry on his legacy and remain forever grateful for the leadership he has provided for so many years.”
During White’s tenure, PlainsCapital Bank has grown from $160 million in assets to approximately $10 billion as of December 31, 2018. White oversaw PlainsCapital’s expansion into major markets throughout Texas, as well as the bank’s acquisition of national mortgage originator PrimeLending and national broker-dealer First Southwest Company—now HilltopSecurities. He was also instrumental in PlainsCapital Corpo.’s 2012 sale to Hilltop Holdings, which laid the foundation for the current Hilltop franchise and led to White joining the company’s board as vice chairman.
“I have known Alan as a friend and business partner for decades, and it has been an honor to work with him as we’ve grown PlainsCapital and the entire Hilltop organization. I wish him well in his much-deserved retirement,” said Hilltop Holdings Chairman Gerald J. Ford. “Alan is leaving Hilltop in a strong position with solid leadership and I look forward to this new chapter in the company’s history.”