Magazine article American Banker

Union Planters Makes Risk Management Hire

Magazine article American Banker

Union Planters Makes Risk Management Hire

Article excerpt

Union Planters Corp. Inc. on Wednesday named Lynn Harton chief credit officer, a new position.

The $34 billion-asset Memphis banking company is consolidating several functions under Mr. Harton that had previously reported to different executives, a spokesman said.

Mr. Harton, 42, is to join Union Planters on June 16 after 20 years with BB&T Corp., most recently as head of the small-business banking group. He was also on several committees involved in loan policy at the Winston-Salem, N.C., company.

Union Planters introduced a number of risk management functions focusing on credit quality under UPExcel, a two-year business-lines review that the spokesman said wrapped up last year. Mr. Harton, who will report directly to Jackson W. Moore, Union Planters' chairman, president, and chief executive, will lead those functions. Mr. Harton was unavailable for an interview Wednesday.

All credit policy development and portfolio performance measurement will report to Mr. Harton, Union Planters said in a press release. He will also assume responsibility for credit granting, loan collection, and credit improvement, which includes loan restructuring and loan workout functions, the company said.

Union Planters has made some headway in addressing credit quality. Keefe Bruyette & Woods Inc. said in a May 28 research report that its "current risk profile remains more of a question mark compared to most regional banks, but improvements are gradually being made."

Credit costs should fall to roughly 0. …

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