SunTrust Realigns Banking Franchise to Support Client-Focused Execution

SunTrust Banks, Inc. Chairman and Chief Executive Officer James M. Wells III announced a leadership and organizational realignment of the Company's banking franchise designed to support execution of SunTrust's client-focused growth strategies as the economy improves.

Highlights of the realignment include leadership of the Company's geographic banking structure, repositioning of the Company's Corporate and Investment Banking unit and the establishment of a broad-based Consumer Banking organization within SunTrust.

"Today's announcement is the latest step in the ongoing evolution of our leadership resources and organizational structure to ensure we're taking maximum advantage of the current and post recession growth opportunities inherent in our franchise," said Mr. Wells.

Highlights of the leadership changes, which are effective April 1, include:

C.T. Hill, 59, Chairman, Mid-Atlantic Banking Group and Retail Line of Business Executive, will lead the new Consumer Banking organization which encompasses the Company's full range of consumer deposit and lending product offerings including mortgages and credit cards.

Thomas G. Kuntz, 53, Chairman, Florida Banking Group and Commercial Line of Business Executive, will lead the Geographic Banking organization which encompasses the Company's 16 primary geography-based operating units comprised of nearly 1,700 branches in 11 states and the District of Columbia.

Amy W. Medendorp, 48, co-head of SunTrust's Corporate and Investment Banking (CIB) line of business, has been named Commercial Line of Business Executive.

Hugh S. (Beau) Cummins III, 47, co-head of the CIB line of business, has assumed leadership responsibility for CIB.

Messrs. Hill, Kuntz and Cummins and Ms. Medendorp will report to SunTrust's President William H. Rogers, Jr. Previously, the CIB unit had reported to SunTrust's Chief Financial Officer.

"The changes we have announced today facilitate the further integration of our client-focused growth strategies across the full range of SunTrust's lines of business," said Mr. Rogers. Mr. Rogers noted that the role of SunTrust's local CEOs and commitment to local market leadership is not changed.

 

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