Regions Financial Corp. Streamlines Structure to Strengthen Support for Customers and Communities
03 March 2018 - 1:00AM
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.
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Regions BankEvelyn Mitchell,
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