First Horizon will promote Thomas Hung from executive vice president and head of franchise finance to senior executive vice president and chief credit officer, effective Oct. 1. Hung will succeed Susan Springfield, who has served in the role since 2013 and will retire.

Starting today, Hung will serve as deputy chief credit officer to begin the succession planning process and join First Horizon’s executive management committee. Springfield will remain with the company until the end of the year to support the transition. Hung will report directly to Bryan Jordan, chairman, president and CEO of First Horizon, and reside in Memphis, TN.

“Tom’s background in leading one of the largest national financiers of franchisors, franchisees, independent chains and private equity sponsors in the restaurant industry positions him well to take on this critical leadership role,” Jordan said. “With a wealth of credit experience and a proven track record of building strong client relationships, his expertise and integrity make him the perfect fit for this position. I have great confidence that under Tom’s leadership, we will continue to expand our high-quality client base within our operating philosophy of soundness, profitability and growth.

“Susan’s decision to retire is bittersweet. As a seasoned, highly regarded executive she has led us adeptly through a number of credit cycles, maintaining solid credit quality during her tenure. She has been a vital member of our executive management committee and mentor and role model to countless young professionals throughout her distinguished career. We are incredibly grateful for her steadfast leadership and her unwavering devotion to our team, the Memphis community and our clients. She will be greatly missed personally and professionally.

“Our succession planning process will help ensure a seamless transition. Susan’s role as leader of our commercial banking team prior to 2013 prepared her for the chief credit officer role just as Tom’s experience as head of one of our highly successful specialty groups has prepared him for this opportunity.”

Hung joined First Horizon in 2019 and has more than two decades of experience in the financial services industry. He previously served as managing director and head of sponsor and chain restaurants for Citizens Bank, where he built out a national chain restaurant lending platform for financing and syndicating sponsor-backed restaurant loans. Before that, Hung was with GE Capital Franchise Finance in various capacities across sales, capital markets, underwriting and portfolio management, culminating his tenure as senior vice president and head of club syndications. Hung’s other experience includes time working as an investment banker with J.P. Morgan and Deutsche Bank, specializing in mergers and acquisitions, as well as equity private placements.