Stock Yards Bancorp in Louisville, Ky., will have a new head of wealth management in 2024.
The $7.7 billion-asset company said in a press release that Kathy Thompson will retire as director of its wealth management and trust group on Jan. 2. She will be succeeded by Shannon Budnick, who is managing director of investments.
“Shannon’s appointment is a natural progression of our succession planning and facilitates a seamless transition as she has worked alongside Kathy for more than 15 years,” Ja Hillebrand, the company’s chairman and CEO, said in the release.
“With more than 25 years of experience in the investments, financial planning and personal trust businesses, Shannon is the perfect fit to take on this role,” Hillebrand added.
Stock Yards’ assets under management has grown from $200 million to $7 billion since Thompson joined the company in 1992.