Financial Federal creates Treasury Management Department
Published on: May 13, 2019
JACOB STEIMER | MEMPHIS BUSINESS JOURNAL
Financial Federal has long found success in residential and commercial mortgages. Bank president William Tayloe thinks the biggest growth opportunity for his firm, though, is in growing deposits from local businesses.
With that in mind, he recently created a treasury management department and hired Linda Waldon and Stephanie Richer to run it. The two women will help tailor the bank's services to companies that may have multiple types of deposits and loans.
"They'll focus on our commercial customers [and] how we can help them manage their cash positions ... instead of them just having products to pick from," Tayloe said.
Waldon and Richer both have at least five years of experience with this type of work and were with First Horizon National Corp. when hired by Financial Federal.
"They bring the strength of a big bank [and we can] learn how the competition is doing it," Financial Federal CFO Susan Yount said. "Their strength is bringing all our technology together ... for the customer."
Before working at First Horizon, Richer spent six years at Metropolitan Bank, which was bought by Renasant Corp. in 2017. She said she was excited about returning to the culture and flexibility that exist at smaller banks.
Waldon said she accepted the position because she knew and liked Yount and because she was excited to build a treasury management department from the ground up.
"I worked with Financial Federal [while at First Horizon]," Waldon said. "I knew it was a great place [and] very relaxed. ... Everyone here has been so warm and welcoming."