Reliance Financial Corporation Appoints New Executive Leadership

ATLANTA, Jan. 23, 2012 /PRNewswire/ -- Reliance Financial Corporation (RFC) announced today that its board of directors approved a new management structure as part of the company's succession planning process. William C. Harlow, currently the executive vice president of RFC and director of Reliance Trust Company's (RTC) Retirement Strategies Group, will succeed Anthony A. Guthrie who retired as president of RTC effective January 1, 2012. James T. Maxwell, currently the chairman, CEO and president of RFC and chairman of RTC, will assume the additional role of CEO of RTC. Christopher M. Teevan, currently executive vice president of RTC and president of Reliance Operations Services, LLC (of RTC), will succeed Guthrie as chief operating officer for both RFC and RTC.

"My decision to retire marks the beginning of a new and well-developed succession plan in which a new management team will begin to lead the company throughout 2012 and into the future," said Guthrie. "This is an exciting time for both me and the company as I move from an active day-to-day management role to an advisory and consultant role working closely with this new team of talented managers, the board and our customers."

Maxwell stated, "The leadership capabilities, vision and extensive industry experience of these chosen professionals ideally positions them to lead Reliance at this time. The company's extensive executive talent development and succession planning efforts over the past several years have provided an orderly and seamless leadership transition that best positions Reliance for the future."

Bryant N. Jones, currently president of Reliance Integrated Solutions LLC (a subsidiary of RFC), will become RFC's chief administrative officer.Christopher Pitrof, currently senior vice president of administration and finance, will succeed Jerry W. Dawson, as the company's chief financial officer. Dawson has elected to retire in 2012 and will continue with the company in the newly created Office of the Chairman.

Ken Phelps, chairman emeritus of RFC, added, "Our growth, after 19 years of being in the business, to a base of approximately $88 billion, is a testament to the firm's capabilities and to those of this new team."

About Reliance Financial Corporation

Reliance Financial Corporation is a privately held, Atlanta-based, diversified financial services and wealth management company with more than $88 billion in assets under management and administration.  Reliance conducts business throughout the United States through its trust companies, Reliance Trust Company based in Georgia (one of the largest independent trust companies in the country) and Reliance Trust Company of Delaware, its subsidiaries and affiliated offices. Reliance offers a full array of trust and wealth management, investment, retirement plan and outsourcing services to individuals, corporations and institutions, as well as to other banks, brokerage firms and insurance companies. Please visit www.reliance-trust.com for information on all of the company's programs and services.

SOURCE Reliance Financial Corporation