BIRMINGHAM, Ala.--(BUSINESS WIRE)--
Regions Financial Corporation (NYSE: RF) today announced that as part of
its Simplify and Grow initiative it is further strengthening its focus
on serving customers and communities and making banking easier by
streamlining its structure to increase innovation, accountability, and
performance and creating a new area to address community development
needs through community engagement.
As part of these changes, Regions has simplified its field structure
into one team focused on local markets and customers and integrated its
geographic leaders into three businesses: the Consumer Banking Group,
the Corporate Banking Group, and the Wealth Management Group. This
combines the company's commitment to customers and communities with the
exceptional expertise of its bankers and ensures that every community
the bank serves will have the benefit of the company's financial
leadership.
"These changes will strengthen our commitment to our communities, help
further improve service quality, and make banking easier for our
customers," said Grayson Hall, Regions Chairman and CEO. "We are
reinforcing our market leadership across the company and engaging in
every community where we do business."
As part of the changes, the bank has created a new area, Corporate
Responsibility and Community Engagement, which brings together several
different areas such as Community Affairs and Charitable Giving,
Government Affairs and Economic Development, and Fair and Responsible
Banking, which all play a role in working with customers and
stakeholders to strengthen our communities.
"Corporate Responsibility and Community Engagement deepens our
commitment to creating shared value, which is at the heart of our
company's mission: It ensures that what we do benefits our customers and
communities as well as the company and its shareholders," said John
Turner, President of Regions. "This function will use the scale and
expertise of our company to address the local community development
needs across all of our markets, through both philanthropy and the
capabilities of our company and its bankers."
Regions has named Keith Herron, former South Regional President, to lead
the Corporate Responsibility and Community Engagement area. In 2012,
Herron led the introduction of Regions360, the company's go-to-market
strategy focused on identifying customers' needs and providing the
products and services as well as the advice, guidance, and education
needed to help them succeed financially. Since its introduction,
Regions' J.D. Power Retail Banking Satisfaction scores have
significantly improved, the Temkin Group has recognized the bank as a
top performer for customer experience, and Greenwich Associates has
recognized the bank's high customer satisfaction in both Wealth
Management and Small Business and Middle Market banking.
In addition, as part of the leadership changes:
John Owen, previously head of the Regional Banking Group, has been named
Head of Enterprise Services and Consumer Banking. He will lead an
organization that includes the Consumer Banking Group, Enterprise
Operations, Information Technology, Corporate Real Estate and
Procurement, Corporate Marketing, and Digital Banking. This realignment
reflects the bank's increased emphasis on shared services to promote
innovation and faster responses to changing customer needs and
expectations. It also continues the bank's long-standing investments in
improving the customer experience through innovation and digital
banking. In 2016, Temkin ranked Regions in the top 10 percent of
companies for its "very strong" online experience.
Turner retains oversight of Strategic Planning and M&A and in addition
to Corporate Responsibility will add responsibility for the Wealth
Management Group, which will continue to be led by Bill Ritter.
Ronnie Smith, former Mid-America Regional President, will assume
leadership of the Corporate Banking Group from Turner and report to
Turner.
"We will continue to look for other opportunities to become more
efficient and effective and shorten the distance between an opportunity
and the right decision, whether in business or philanthropy, which will
benefit our customers and communities and help our company grow," Hall
said. "We remain committed to local market leadership and supporting the
customers and communities we serve because we succeed only when they do."
About Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $124 billion in assets,
is a member of the S&P 500 Index and is one of the nation's largest
full-service providers of consumer and commercial banking, wealth
management, mortgage, and insurance products and services. Regions
serves customers across the South, Midwest and Texas, and through its
subsidiary, Regions Bank, operates approximately 1,500 banking offices
and 1,900 ATMs. Additional information about Regions and its full line
of products and services can be found at www.regions.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180302005057/en/
Regions Bank
Evelyn Mitchell, 205-264-4551
regions.doingmoretoday.com
Regions
News on Twitter: @RegionsNews
Source: Regions Financial Corporation
News Provided by Acquire Media