JMFA announces leadership retirements and succession plan
Company veteran named CEO to lead continued growth and client service strategy
HOUSTON, TX (November 20, 2019) — John M. Floyd & Associates (JMFA), has announced the retirement of company founder, chairman and CEO John M. Floyd, and co-owner and COO Cher Floyd. Company veteran, John Cohron, has been named to succeed Floyd as CEO.
John Floyd founded JMFA nearly 40 years ago as a small, regional consulting practice with a handful of employees. Over the years, with his leadership the company transformed into what is now recognized nationwide as a premier provider of income enhancement and expense reduction products, and consulting services for banks and credit unions. Mr. Floyd is considered a visionary in the development of high-performance overdraft privilege programs that are fully compliant and consumer friendly.
“The Floyd’s dedication to the company, employees and clients has truly been extraordinary, said Cohron. “Thanks to the ongoing commitment of our professional staff and the trust of our many valued clients over the years, the company has maintained an excellent track record of growth and customer loyalty.”
He continued, “To support our fundamental mission of being the best in the business at helping our customers succeed, we have secured a strategic investment partnership with Indianapolis-based private equity firm Hammond, Kennedy, Whitney & Company, Inc. (HKW). And, as we look ahead, we have an increased focus on growing JMFA’s capacity far beyond what it has ever been to help community banks and credit unions compete and prosper in their respective marketplaces by offering expanded products and consulting services.”
Cohron joined JMFA in 2002. As Chief Information Officer he has been the principal advisor to the executive team and directly managed the company’s consulting operations group. He has been responsible for client relationships related to the performance improvement aspect of consulting projects, all IT functions and software development for all programs, including the recently enhanced Privilege Manager CRM® for the NEXT GENERATION JMFA OVERDRAFT PRIVILEGE® program.
Cohron’s experience includes 30-plus years in government and the financial industry, with expertise in software and systems engineering, automation operations support and cost analysis optimization.
About ADVANTAGE, powered by JMFA
ADVANTAGE is a leading provider of consultation services for credit unions and community banks. With a history of excellence, we help our clients navigate the ever-changing financial landscape, providing solutions that give them a competitive advantage. Our services include account acquisition and retention marketing services, overdraft compliance and change management, contract negotiation, and technology strategy evaluation and selection.
From growing market share and improving non-interest income to contract negotiations and technology strategy, our experts offer the best solutions for you and your account holders.
About HKW
HKW is a private equity firm investing in growth-oriented companies with talented management teams in the US and Canada. HKW targets small to mid-size companies in the Business Services and Health & Wellness sectors. Since 1982, HKW has sponsored 61 platform transactions of lower middle-market companies throughout North America, as well as 66 add-on acquisitions. For more information on HKW, please visit hkwinc.com.
