Horner moves up at First Hawaiian

DON HORNER Advertiser library photo

By Frank Cho
Advertiser Staff Writer

First Hawaiian Bank has promoted Don Horner to president and chief operating officer, the bank's No. 2 position, to succeed Jack Tsui, who is retiring at the end of the year.

Horner, 52, joined First Hawaiian Bank in 1978 as a credit analyst and has been the head of First Hawaiian's retail banking since 1994. As president, Horner will be responsible for all consumer and commercial lending, the branches, marketing, private banking, trust and technology.

JACK TSUI Advertiser library photo

"No one person is going to replace Jack Tsui," Horner said. "Fortunately, we have an outstanding leadership team with roots that go deep into this company, and the community."

Horner's promotion is effective Jan 1.

Tsui's retirement and the elevation of Horner signal a significant changing of the guard at First Hawaiian, and continues the plan laid out by Walter Dods, the bank's chairman and chief executive officer, to have Horner succeed Dods when he retires.

Dods said that over the next several days, the bank will announce the promotions of key executives who will form the core of Horner's management team.

"Don Horner is an outstanding banker and leader and we're lucky to have him ready and able to step into Jack's big shoes," Dods said. "Don is forthright, and he fights for his people unlike almost any executive I have ever known. He's ready to hit the ground running and I expect great things from Don."

Horner, who was born in Fayetteville, N.C., graduated from the University of North Carolina with a degree in business in 1972. After graduation, he was awarded a Navy commission and assigned to a destroyer at Pearl Harbor just as the Vietnam War was winding down.

After joining First Hawaiian, Horner was assigned to First Hawaiian Leasing in 1979, eventually rising to president of the leasing company by 1985. After that, he took over struggling First Hawaiian Credit Corp. which was later merged into the bank.

Tsui, 64, spent the first 20 years of his banking career at major East Coast financial institutions before coming to Hawai'i in 1984 to join Bank of Hawaii as head of its wholesale banking division before rising to become a vice chairman of that bank.

In 1994, Tsui moved across the street to First Hawaiian as president and chief operating officer. Tsui was instrumental in improving First Hawaiian's loan portfolio during Hawai'i's sluggish economy in the 1990s. In addition, he oversaw commercial real estate, wholesale lending to large U.S. corporations and, until recently, the Financial Management Group.

"I will be 65 in March and really did not want to work past 65. We've had a great run and this is a great time to depart," said Tsui, who is also chairman of Hawaii Pacific Health, the parent company of Straub Clinic and Hospital, Kapi'olani Medical Center for Women and Children, and Wilcox Memorial Hospital.

Tsui will maintain an office in First Hawaiian Center, the bank's downtown headquarters, and continue to serve on the bank's board of directors. Tsui is also retiring as vice chairman and chief credit officer of BancWest Corp., the bank's $34.3 billion parent company.

During his tenure, Tsui helped oversee First Hawaiian Bank's rapid expansion on the West Coast, its 1998 merger with San Francisco's Bank of the West and later acquisition by BNP Paribas. In 1996, First Hawaiian acquired a total of 31 branches in Oregon, Washington and Idaho. Those branches, which became the nucleus of Oregon-chartered Pacific One Bank, now have been merged into First Hawaiian's sister company, Bank of the West.

Founded in 1859, First Hawaiian Bank is Hawai'i's oldest bank and has $8.9 billion assets. It has 56 branches in Hawai'i, three on Guam and two on Saipan. Its parent company, BancWest Corp., is the state's largest Hawai'i-based bank holding company, with assets of $34.3 billion.

Horner said he did not anticipate any material changes to the bank's operations when he takes over next year.

"The bottom line is we have met with good success and my job will be to maintain the current course," Horner said.

Reach Frank Cho at 525-8088, or at fcho@honoluluadvertiser.com.

CORRECTION: The promotion of Don Horner, named as First Hawaiian Bank's new president and chief operating officer, takes effect Jan. 1. An earlier version of this story posted today reported a different date.