Mr. Hanna is a well-established and experienced investor and businessman based in Atlanta, Georgia. After graduating from the University of Georgia with a degree in Finance, he began his career in 1961 as a Credit Trainee with Sears. During his two years at Sears, he quickly rose to Manager of the Credit Department. From 1963-1965, Mr. Hanna served as Credit Manager at GMAC (a.k.a. Yellow Motor Credit), where he was responsible for all heavy duty trucks and earth moving equipment for the Southeast United States. In 1965, he began working at Rollins, Inc. Throughout his 16 years at Rollins, Inc., he not only founded and ran the world's largest termite finance company, but also managed the real estate division which encompassed over 500 locations. While employed by Rollins, Inc., he personally bought and sold apartment buildings, owning approximately 5000 apartments at one time.
In 1981, Mr. Hanna purchased and managed a collections agency, Nationwide Credit, Inc., which was ranked 5000 out of 6000 agencies at the time. Within 9 years, he turned it into the 3rd largest collections agency in the country and sold it for a $94 million profit. At this same time, he started Account Portfolio with his two sons for $1.7 million. Within 5 years, they sold the company for $120 million.
Since 1992, Mr. Hanna has served as Chairman and President of Worldwide, Inc., a management and support services firm focused on the financial services and real estate industries.
In 1996, he and his sons purchased Blue Cross Blue Shield of Georgia for $40 million, selling it in 1999 for $126 million. In 1997, Mr. Hanna co-founded one of the largest collectors of Department of Education loans in the United States, National Asset Management Enterprises, Inc. ("NAM"). NAM is also a contract outsource service provider for some of the largest credit card issuing institutions in the nation. In 1998, Mr. Hanna and Goldman Sachs formed a joint venture in which they bought, sold and collected on mortgages valued an estimated $500 million in Mexico, making a $100 million profit. In 2001, he purchased his partner's interest in NAM for $20 million, becoming the sole owner of the business. The name of the company was changed from NAM to Worldwide Asset Management, LLC and sold in 2004 for $190 million. In 2001, Mr. Hanna also entered the venture capital business and now serves as Chairman of Paladin Capital Partners Fund with over $200 million in committed funds. To date, the fund has purchased a total of 8 companies, with one exit at a 41% IRR to investors.
In 2003, Mr. Hanna purchased Orlando-based Metro Savings Bank, FSB which subsequently became Urban Trust Bank. After an extensive search, he selected
Robert L. Johnson as his partner because of Mr. Johnson's integrity, vision and dedication to the task of raising the net worth of African Americans so they are provided the opportunities to participate in the American dream.