Dallas-based First Foundation Inc. announced Monday that Chief Executive Officer Scott F. Kavanaugh has been named president of First Foundation Inc. and First Foundation Bank.
First Foundation Inc. is a financial services company with two wholly-owned operating subsidiaries, First Foundation Advisors and First Foundation Bank.
“Enhancing Scott’s position to include the role of President is the most suitable, long-term transition for the organization,” lead independent director Max Briggs said in a statement. “For the past 15 years, First Foundation and its affiliates have benefitted tremendously from Scott’s proven leadership and strong knowledge of finance, banking, and real estate. The board has complete confidence that he is the right choice to assume this role and execute against the commitments we have made to reduce expenses and slow loan growth while continuing to deliver excellent service to our clients.”
The company announced that Chief Financial Officer and Interim President Kevin Thompson has stepped down and that Amy Djou, First Foundation Bank’s chief accounting officer, will assume the position of interim chief financial officer of First Foundation Inc. and First Foundation Bank while the company conducts a search for a permanent replacement.
Kavanaugh has served as CEO of First Foundation Inc. and First Foundation Bank since 2009, the company said. Formerly, he was an executive vice president and director of secondary marketing for Provident Funding. Kavanaugh was a founding stockholder of Commercial Capital Bancorp and served as director, executive vice president and chief administrative officer from June 1999 to February 2003.
Djou previously served as chief accounting officer of the bank since March 2021. She joined First Foundation Bank in May 2016. Djou was a senior vice president, controller of the bank between January 2018 and March 2021 and was vice president, controller between May 2016 and January 2018.
First Foundation Inc. and its subsidiaries offer personal banking, business banking, and private wealth management services, including investment, trust, insurance, and philanthropy services.
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