An executive previously honored as one of the industry’s Movers & Shakers by SubPrime Auto Finance News now is the president of the Prestige Financial Services.

The business enterprise group within the Larry H. Miller Group of Companies will be led by Richard Hyde, who is being asked to oversee the PFS business operations, lead strategy development and build and maintain a strong organizational culture.

Hyde replaces David Smith, who served as interim president of PFS over the last year, following the retirement of long-time president Bryant Henrie. Smith is currently the chief strategy officer for the LHM Group.

“Rich is a proven leader with expertise in the operational aspects of PFS, who strategically achieves strong results even during shifts within the industry and economy,” LHM Group chief executive officer Steve Starks said in a news release.

“He is also an excellent communicator who builds high-performing teams and cultivates an engaging and inclusive culture. It is a privilege to work with Rich and to witness his positive impact on our organization, our partners and our customers,” Starks continued.

Hyde was previously the chief operating officer of PFS, a position he held since 2013. He has more than 25 years of senior-level leadership experience successfully managing financial companies in various financial industries.

Hyde joined PFS in 2002 as senior vice president of servicing. In addition to subprime auto, he has spent time in credit card, small dollar, manufactured housing and mortgage finance, including holding senior-level roles at CitiFinancial Mortgage, Conseco Finance, and Associates Capital Bank.

He serves on the executive board of directors and the independent auto finance board for the American Financial Services Association. Hyde was named Director of the Year by Conseco Finance.

“I look forward to leveraging my experience and capabilities in the financial industry to ensure long-term success for PFS, and to leading our strong team as we further define and execute our growth strategy,” Hyde said.

“I have been with this organization for nearly two decades and am grateful for the opportunities that the Miller family and the Larry H. Miller Group of Companies have given me,” he said.