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SunTrust Announces Executive Moves to Build Business Momentum

February 27, 2017, 07:19 AM
Filed Under: Banking News

SunTrust Banks is appointing key leaders to new roles as the company streamlines its business segments to boost performance and advance its purpose of Lighting the Way to Financial Well-Being for its clients. The appointments are effective April 3.

"We are fortunate to draw upon seasoned leaders as we identify opportunities for both growth and efficiency," said SunTrust Chairman and CEO William H. Rogers, Jr. "These appointments will enhance our client focus while accelerating our business momentum."

Hugh ("Beau") Cummins is named Wholesale Segment Executive, succeeding Chancy and reporting to Rogers. Cummins most recently led the Commercial and Business Banking line of business, and previously led SunTrust Robinson Humphrey, the company's investment banking unit. He significantly grew these businesses over the past decade, contributing to the momentum that SunTrust has established in the Wholesale Segment.

Mark Chancy is named Vice Chairman and Consumer Segment Executive, reporting to Rogers.  SunTrust will align its consumer businesses by merging the Mortgage Segment with Consumer Banking & Private Wealth Management. Chancy, who most recently served as Wholesale Banking Executive, will lead this expanded segment. "Structuring all of our consumer businesses under the same leadership will help us invest more effectively in the overall client experience while taking advantage of natural synergies," Rogers said. Mortgage Banking Executive Dorinda Smith will report to Chancy in his new capacity.

Thomas Freeman is named Efficiency & Strategic Partnerships Executive, reporting to Rogers.  He has been leading Consumer Banking & Private Wealth Management. He will now spearhead initiatives to improve SunTrust's efficiency and evaluate further Fin Tech alliances. This is consistent with the company's strategic focus on investing in future growth and becoming more efficient. 

Jorge Arrieta, General Auditor, will now functionally report to Rogers, while maintaining his primary reporting relationship to the Audit Committee of the Board. The company's internal Audit function works closely with business lines and functions to ensure executional excellence.

"We are privileged to have a breadth of leadership talent at SunTrust," Rogers said. "I look forward to working with this outstanding team as we serve our clients and communities and deliver further returns for our shareholders."

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