Executive Changes At Top Of SunTrust Banks

Tom Burroughes

27 February 2017

US-listed SunTrust Banks has announced a range of appointments affecting divisions including its private client arm. The changes take effect from April 3.
Mark Chancy is named vice chairman and consumer segment executive, reporting to Rogers. SunTrust Banks will merge the mortgage segment with consumer banking and private wealth management. Chancy, who most recently served as wholesale banking executive, will lead this expanded segment, SunTrust said.

"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," chief executive and chairman William Rogers said.

Mortgage banking executive Dorinda Smith will report to Chancy in his new capacity, the bank said in a statement late last week.

Hugh 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.

Thomas Freeman is named efficiency and strategic partnerships executive, reporting to Rogers. He has been leading consumer banking and private wealth management. He will now spearhead initiatives to improve SunTrust's efficiency and evaluate further Fin Tech alliances.

Jorge Arrieta, general auditor, will now functionally report to Rogers, while maintaining his primary reporting relationship to the audit committee of the coard. The company's internal Audit function works closely with business lines and functions to ensure executional excellence.