Holding Family Named TBJ Businessperson of the year
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by: Sarah Kilmer
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Date: Tue, 29 Dec 2009 Time: 12:31 AM
RALEIGH, N.C. – The winner of Triangle Business Journal’s Businessperson of the Year award for 2009 is actually a family – and not just any family, but one of the most prominent in area business circles over the past 70 years.
The Holding family has guided the destiny of First Citizens Bank since 1935 and has built a reputation for a conservative, solid approach to managing the bank’s growth. That philosophy put the company in good position to not only weather the recession of 2009, but to make aggressive and opportunistic moves to expand the bank’s assets without straining its cash reserves.
Led by Chairman and CEO Frank Holding Jr., and his sister, Executive Vice President Hope Holding Connell, First Citizens purchased two failed banks on the West Coast to widen its Pacific footprint and followed that with the acquisition of a failed Georgia bank for another Holding family affiliate, First Citizens of South Carolina.
2009 also saw the passing of the torch and the passing of a legend. Lewis R. Holding, the commanding figure who had run the bank since 1957 before handing the reins to his nephew Frank Jr. early in the year, passed away in August, leaving the third generation of the family firmly in control.
"We're delighted with our 2009 pick because this award reflects the leadership prowess of a family that not only endured the challenges thrown at them this year but managed to grow the business during extreme financial turmoil,” says Charlene Grunwaldt, publisher of Triangle Business Journal. "The Holding family and First Citizens Bank are a North Carolina asset, and their rich values of running a business offer a valuable lesson to all of us.”
Triangle Business Journal tells the Holdings’ story in its Dec. 25 issue, which hits newsstands Christmas Eve. Also, spend a day with Frank Holding Jr. and Hope Holding Connell as they man the wheel of the family business.
An event in their honor will be held February 11, 2010 at Brier Creek Country Club as TBJ Editor, Sougata Mukherjee sits down to interview the family. More information.
Victoria Haynes, CEO of RTI International, won the Businessperson of the Year award last year. Prior winners include Dennis Gillings of Quintiles Transnational, former RBC Bank head Scott Custer, Jim Rutherford of the Carolina Hurricanes and Neal Hunter of Cree Inc
About Triangle Business Journal: Triangle Business Journal, a weekly business newspaper, is the leading provider of local business news for the Raleigh-Durham-Chapel Hill area of North Carolina. Triangle Business Journal also publishes special publications such as SPACE, t.b.j. the magazine and Book of Lists. In addition to producing an award-winning news product, TBJ hosts recognized, sold-out events such as Fast 50, Women in Business, 40 under 40, the GREEN Awards and others. At trianglebusinessjournal.com, you will find daily breaking business news, nomination forms for awards, business event listings and resources for those driven to lead in the Triangle region.
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About Triangle Business Journal: Triangle Business Journal, a weekly business newspaper, is the leading provider of local business news for the Raleigh-Durham-Chapel Hill area of North Carolina. Triangle Business Journal also publishes special publications such as SPACE, t.b.j. the magazine and Book of Lists. In addition to producing an award-winning news product, TBJ hosts recognized, sold-out events such as Fast 50, Women in Business, 40 under 40, the GREEN Awards and others. At trianglebusinessjournal.com, you will find daily breaking business news, nomination forms for awards, business event listings and resources for those driven to lead in the Triangle region.
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