Louis A. Harris, executive vice president and manager of the commercial banking division of First Security Bank of Utah and a member of its board of directors, has been elected president and chief executive officer and a director of First Security Leasing Co.
At same time he was making this announcement, Spencer F. Eccles, chairman and chief executive officer of First Security Corp.,said C.S. Cummings, president and chief executive officer of the leasing company, will retire May 1 at age 65.
Eccles said Cummings will remain on the board and serve as vice chairman of the leasing company until his retirement. Robert T. Heiner, president and chief administrative officer of First Security Corp., continues as leasing company chairman.
Referring to Harris' appointment, Eccles said, "He is uniquely qualified to satisfy our corporate commitment that First Security Leasing Co. will play an increasingly important role in the continued growth of First Security.
Harris has been associated with First Security for 36 years. He joined the bank's commercial loan department in 1955 and has been assistant to the president, senior vice president and manager of the Salt Lake Division. A graduate of the University of Utah, Harris is president of the Holy Cross Foundation, former president of the Utah Bankers Association and the United Way and is a member of the U. Alumni Association.
Cummings is a 38-year veteran in the financial services division, has held his present position since 1983 and also was chairman and chief executive officer of the former First Security Financial. He joined First Security Leasing in 1973 following a long career in banking and finance in Salt Lake City and San Francisco.