MEMPHIS, Tenn. (July 12, 2006) – Morgan Keegan & Company today announced several changes to its executive management structure. Joseph C. Weller, who has served as chief financial officer, secretary and treasurer for more than 37 years, has been named vice chairman. Charles D. Maxwell and R. Patrick Kruczek were named chief financial officer and chief administrative officer, respectively, and will join the firm’s Executive Management Committee. Elkan Scheidt will replace Kruczek as director of Equity Research.
As vice chairman, Weller will continue to serve on the firm’s Executive Management Committee. He will also maintain a supervisory role over several affiliates and will assist in the transition of duties to Maxwell and Kruczek. One of the four founders of Morgan Keegan in 1969, Weller was involved in the management of the firm’s operations division throughout his tenure. Additionally, he oversaw the accounting, finance and information technology divisions. Weller represented the firm through participation in the National Association of Security Dealers and the Securities Industry Association.
Maxwell will serve the board as chief financial officer, secretary and treasurer. He will be responsible for all financial reporting, accounting and finance. Maxwell has been with the firm for 20 years, serving most recently as assistant secretary and treasurer. He is a Certified Public Accountant (CPA).
In the new role of chief administrative officer, Kruczek will be responsible for oversight of operations, technology and human resources. Kruczek joined Morgan Keegan in 1993 as an investment banker. He has held several positions in the Equity Capital Markets division, including institutional sales manager, co-director of the syndicate department, and, most recently, chief operating officer and director of Equity Research. Kruczek is also a CPA.
Scheidt assumes responsibility for oversight of the Equity Research department and will continue to serve as chairman of the firm’s Focus Committee and a member of the board of directors for the Opportunity Fund. Scheidt was previously director of the Equity Strategies Group and associate director of Equity Research. His 21-year career with Morgan Keegan began as an investment broker and included eight years as portfolio manager of the Regions Morgan Keegan Select Capital Growth Fund.
About Morgan Keegan & Company Inc.
Morgan Keegan & Company Inc., one of the nation’s largest regional full-service brokerage and investment banking firms, is the securities brokerage arm of Regions Financial Corporation (NYSE: RF). Headquartered in Memphis, Tenn., Morgan Keegan has some 300 offices across an 18-state footprint. Additional information about Morgan Keegan and Regions – a member of both the Forbes and Fortune 500 and one of the nation’s Top 15 banks – can be found at www.morgankeegan.com and www.regions.com.
