Cullen/Frost Bankers, Inc. Announces Departure of CFO Jerry Salinas, Succession Plans Revealed

Strategic Insights -

Cullen/Frost Bankers, Inc., a leading financial institution, has announced the upcoming retirement of Jerry Salinas, group executive vice president and chief financial officer of Cullen/Frost and Frost Bank. Salinas, who has been with Frost since 1986, will step down at the end of 2024. His departure marks the beginning of a transition period, during which Dan Geddes, current Frost's San Antonio Region President, will assume the role of chief financial officer on January 1, 2025. Geddes will be joined by Clay Jones, the new San Antonio region president, and Matt Henson, who will take on the role of chief accounting officer.

Key Takeaways:

  • Jerry Salinas, group executive vice president and chief financial officer of Cullen/Frost and Frost Bank, will retire at the end of 2024 after a 38-year career with the company.
  • Salinas has played a crucial role in numerous company-wide initiatives, including acquisitions, major transactions, and expansion projects.
  • Phil Green, Cullen/Frost Chairman and CEO, praised Salinas for his leadership and commitment to the company.
  • Effective immediately, Dan Geddes will step down as Frost's San Antonio Region President to assume the role of chief financial officer on January 1, 2025.
  • Geddes will join Frost's executive leadership team in the interim and will continue Jerry Salinas' tradition of acting as a chief integrity officer.
  • Clay Jones has been named the new San Antonio region president, and Matt Henson will assume the role of chief accounting officer on January 1, 2025.
  • Both Geddes and Henson have extensive experience within the company, with Geddes serving as a 27-year Frost commercial banker and Henson holding 21 years of accounting experience.

Statistics:

  • 38-year career with Frost and Cullen/Frost Bankers, Inc. for Jerry Salinas
  • 27 years of experience as a Frost commercial banker for Dan Geddes
  • 21 years of experience in Frost's accounting division for Matt Henson
  • 4 decades of company-wide initiatives undertaken by Jerry Salinas
  • January 1, 2025, marked as the effective date for Dan Geddes' role as chief financial officer and Matt Henson's role as chief accounting officer

Sources:

  • Cullen/Frost Bankers, Inc. news release
  • Statement from Phil Green, Cullen/Frost Chairman and CEO
  • Quotes from Jerry Salinas, Dan Geddes, and Phil Green