MEMPHIS, Tenn. - First Horizon Corporation (NYSE: NYSE:FHN) announced today the promotion of Tracy Bell to Chief Investment Officer at First Horizon Advisors Inc., the Wealth Management arm of the regional financial services company. Bell, who previously served as Director of Equity Strategies since 2020, will now oversee the investment team and continue to lead the bank's Women & Wealth initiative.
With a 27-year tenure in investment management, Bell has built her career at several notable institutions, including Regions and IBERIABANK, before her tenure at First Horizon Advisors. Her experience extends to authoring investment publications and speaking engagements across the First Horizon network, as well as media contributions as an investment expert.
Martin de Laureal, President of First Horizon Advisors, Inc., praised Bell's expertise and commitment to client-centered financial strategies, stating her role will be pivotal in the expansion of the company's wealth management services.
First Horizon, headquartered in Memphis, TN, boasts $81.7 billion in assets as of December 31, 2023, and operates First Horizon Bank across 12 southern states. The company provides a range of services, including commercial and private banking, consumer and small business lending, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking.
First Horizon Advisors Inc. manages or administers $65 billion in assets, focusing on investment management, financial planning, private banking, trust, and family office services. The promotion of Bell is part of First Horizon's ongoing efforts to enhance their wealth management capabilities and client services.
This leadership change is based on a press release statement from First Horizon Corporation.
InvestingPro Insights
First Horizon Corporation (NYSE: FHN) is at a pivotal point, with Tracy Bell stepping up as Chief Investment Officer at First Horizon Advisors Inc. In the context of this leadership change and strategic focus on wealth management, several metrics and insights from InvestingPro are particularly relevant for investors and stakeholders.
InvestingPro Data shows a Market Cap of $8.06 billion and a P/E Ratio of 9.2, which adjusts to 11.66 when looking at the last twelve months as of Q4 2023. This valuation comes despite the company experiencing a Revenue Growth decline of -4.18% over the same period. These figures suggest a robust financial foundation with some areas of concern regarding recent revenue trends.
Among the InvestingPro Tips, it's noteworthy that First Horizon has been profitable over the last twelve months and maintained dividend payments for 14 consecutive years, which may be attractive to income-focused investors. However, analysts have flagged that First Horizon is trading at a high P/E ratio relative to near-term earnings growth and suffers from weak gross profit margins. These insights could be crucial for investors considering the company's future performance and stock valuation.
For those looking to delve deeper into First Horizon's financials and strategic positioning, InvestingPro offers additional insights and tips. With the provided coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, granting access to an even more comprehensive analysis. Currently, there are 6 additional InvestingPro Tips available for First Horizon, which can be found at https://www.investing.com/pro/FHN.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.