First Citizens BancShares (FCNCA) in Raleigh, N.C., has decided on the management team that will run the company after it buys First Citizens Bancorp. in Columbia, S.C.
The $22 billion-asset First Citizens BancShares
Frank Holding Jr. will remain the company's chairman and chief executive. Hope Holding Bryant,
Peter Bristow, chief operating officer of First Citizens Bancorp, will become president and a corporate sales executive at the post-merger company. Bristow, the brother-in-law for Frank Holding and Hope Bryant, will focus on existing markets.
The company said Craig Nix, First Citizens Bancorp's chief financial officer, will become its CFO, succeeding Glenn McCoy, who will retire.
Jeffery Ward will become the company's chief strategy officer, filling a newly created post. Ward is a regional executive vice president at First-Citizens Bank & Trust, a unit of First Citizens BancShares.
Edward Willingham will complete the six-member leadership team in the newly created post of chief operating officer. Willingham is president of First Citizens BancShares; he is being succeeded in that role by Bristow.
The company disclosed earlier this month that Jim Apple, First Citizens Bancorp's chairman and CEO, will retire.
The appointments,