KLC Financial’s CEO Spencer Thomas has stepped down after nearly 25 years of leadership with the company. Thomas has played a defining role in KLC Financial’s growth and success for more than two decades, helping lead the company through expansion while preserving its relationship-driven culture.
“It has been an incredible privilege to lead KLC for so many years,” Thomas said. “I am deeply grateful for the people I have had the opportunity to work alongside and for the relationships that have shaped this company over the years. KLC has always been about people first, and I am proud of what we have built together. The time feels right for me personally, and I have complete confidence in Shannon and the leadership team as they guide KLC into its next chapter.”
Shannon Smith, CLFP, has been named CEO, effective immediately. Thomas will remain involved during the transition period to support a smooth handoff.
Smith served as chief credit officer at KLC Financial and has been with the company for more than 18 years. Throughout his tenure, he has held multiple leadership roles across credit and operations, working closely with the sales team, capital markets partners and executive leadership to help shape the company’s strategy, structure transactions and support long term growth.
“I am honored to step into this role and build on the strong foundation Spencer has created,” Smith said. “KLC has always been a company built on trust, relationships and doing the right thing for our customers and partners. That will not change. We have an exceptional team, a strong culture and a clear path forward, and I am excited for what is ahead.”
Thomas added, “This is a meaningful moment for KLC. We have a strong leadership team, a clear vision for the future and a culture that will continue to serve this company well. I am grateful to have been a pivotal part of KLC’s story, and I am excited to see what comes next.”
