Cullen/Frost Expands Executive Team Responsibilities

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Jan 28, 2015, 09:01 ET

SAN ANTONIO, Jan. 28, 2015 /PRNewswire/ -- Cullen/Frost Bankers, Inc. today announced expanded executive team responsibilities to meet the demands of the growing financial institution:

Phil Green, who has served as chief financial officer since 1995, will become president of the holding company, with greater responsibility for and involvement in all areas of the company. Green joined the company in 1980 and held a number of managerial positions in the financial division before serving as chief financial officer from 1995 to 2015. Green has also had oversight for Frost's technology, operations and capital markets areas, and worked closely with the CEO on all matters involving the board of directors and investor relations. He is currently on the board of Frost Insurance and also served on the Frost Securities board. Green graduated with honors from the University of Texas at Austin with a bachelor's degree in Accounting.

Jerry Salinas, who has been treasurer for 18 years, will become chief financial officer. Since joining Frost in 1986, Salinas has held various financial positions within Frost and Cullen/Frost. He was named bank and corporate controller in 1989 and treasurer in 1997. A San Antonio native, Salinas earned a BBA in Accounting from the University of Texas at San Antonio and is a CPA. Before joining Frost, he worked in public accounting for six years.

Paul Bracher will become chief banking officer, with continued responsibility for directing the activities of region presidents and as a steward of banking operations. Since joining Frost in 1981, Bracher has worked in commercial lending, special assets and management. He also managed Corpus Christi and headed up commercial lending for San Antonio for the bank. Bracher earned a bachelor of science degree from Texas A&M University, graduating with a major in agricultural economics.

Bill Perotti, who has been responsible for both credit and risk, will focus more time as chief risk officer. Chip Allen will become the chief credit officer, reporting to Bill. Since joining Frost in 1981, Perotti has served in several roles in asset review and credit before being named head of Credit Administration in 1991. He was named chief risk officer for Cullen/Frost Bankers, Inc. in 2005. He worked as a bank examiner for the OCC for three years before coming to Frost. Perotti earned a BBA in accounting from George Washington University.

"Cullen/Frost has more than doubled in asset size over the last seven years," said Dick Evans, chairman and CEO of Cullen/Frost. "For more than 100 years, we have been committed to developing our people, and these moves will allow us to spread management responsibility to other long-tenured and experienced individuals. The changes strengthen the executive team and position us well for future growth."

Evans also announced that Dave Beck will retire in 2015 as president and chief business banking officer after 39 years of service.

"We thank Dave for his long and commendable service to Frost," said Evans. "We also welcome Jerry to the executive team."

Cullen/Frost Bankers, Inc. (NYSE: CFR) is a financial holding company, headquartered in San Antonio, with $28.3 billion in assets at December 31, 2014. Among the top 50 largest U.S. banks and one of 24 banks included in the KBW Bank Index, Frost provides a wide range of banking, investments and insurance services to businesses and individuals across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped clients with their financial needs during three centuries. Additional information is available at frostbank.com.