Arvest Bank’s Wealth Management division has named Asa Cottrell as its next President and CEO, effective June 13, the financial services firm announced via press release Wednesday morning. Current President and CEO Jim King will remain a member of the Arvest Wealth Management Board of Directors and serve as an advisor to the firm throughout the leadership transition, and plans to retire early next year.
“Asa’s unique range of experience and perspective make him the ideal choice to be the next leader of Arvest Wealth Management,” Arvest Bank President and CEO Kevin Sabin said. “In addition to his business acumen, Asa’s skills as a relationship-builder and collaborator will help us drive innovation as we seek new ways to meet our clients’ needs and expectations while continuing to grow.
“We also thank Jim King for his years of service and dedication to our company and clients. He led Arvest Wealth Management through a significant period of growth and now we wish him the best as he approaches retirement.”
King will remain a member of the Arvest Wealth Management Board of Directors while serving as an advisor to the firm throughout the leadership transition. He plans to retire in Q1 2023. Arvest Wealth Management grew total assets under management from $6 billion (year-end 2011) to $15.9 billion (year-end 2021) under King’s leadership.
“It has been an honor to serve as president and CEO for more than a decade and I can’t think of a better successor than Asa,” King said. “He is well-equipped to lead our expansion of the digital services many prefer today, while emphasizing the value in the planning and advice our advisors provide.”
Cottrell has served as sales manager for Arvest Bank in Little Rock since 2016, following 22 years with Arvest Wealth Management. He began his career as a client advisor and location manager in Siloam Springs and later advanced to become a regional manager, working with the Little Rock and Fort Smith markets. He has more than 30 years of combined industry experience.
“I am both thrilled and humbled to take on this new role,” Cottrell said. “This is an exciting, transformative time at Arvest Wealth Management and I look forward to helping our associates expand relationships with our current clients and form new relationships, particularly with Arvest Bank customers.”
Cottrell earned a bachelor’s degree in Finance at the University of Arkansas and has maintained his status as a Certified Financial Planner. He is an AR Kids Read board member and an active member of the Arkansas Bankers Association and Fellowship Bible Church, among other civic endeavors.