Regions Financial Corp. (NYSE: RF) announced today that David H. Rupp
will join the company on May 19 as senior executive vice president and
head of Consumer Services. Rupp, who had been the Sales, Service and
Execution executive for Bank of America’s
global consumer and small business bank, will lead Regions’
consumer banking and mortgage lines of business, its largest business
segment by revenue. He will also be a member of Regions’
Executive Council, its highest level management committee, and report to
Chairman, President, and CEO Dowd Ritter. Rupp succeeds Candice Bagby,
who is retiring after a 38-year banking career. Bagby will remain with
the company through a transition period.
At Bank of America, Rupp, 44, led the home equity business, which
generated $85 billion in originations annually, and previously had been
chief financial officer for consumer real estate. Rupp has also worked
for Wachovia Bank as controller for consumer products and structured
products. He began his career in public accounting at Deloitte & Touche
and holds a degree in accounting from Wake Forest University.
“David has the talent and commitment to help
us grow our successful retail franchise while continuing to improve the
customer experience and increase customer satisfaction,”
said Ritter. “His experience spans finance and
operations, but ultimately is centered on executing sales and service
consistently across the company. With his large-scale bank experience,
which complements our solid consumer banking organization, David has the
right skill set to increase revenue and achieve the long-term strategic
goals of this unit. David is the ideal candidate to lead this
organization and we are delighted that he is joining the Regions
management team.”
Ritter continued, “Candi Bagby has been
integral to the growth and success of this company, and the team she
leaves for David is a testament to her commitment to Regions. On behalf
of everyone at Regions, I thank her for her service and dedication and
wish her all the best in her retirement.”
“I am pleased and excited to join the Regions
team. I’m looking forward to working with
associates across Consumer Services and the entire organization to make
a great company even better,” Rupp said.
Bagby, who has served Regions and AmSouth Bancorporation since 1994, has
led the bank’s largest line of business since
its merger with AmSouth in 2006. She is a past chairman and current
board member of the Consumer Bankers Association and a current board
member of the Bank Administration Institute.
Bagby said, “David will find enormous talent
and tremendous capabilities across the consumer organization. It has
been my privilege to be a part of this company and its growth, and
working with our terrific associates has been the greatest joy of my
career. I’m proud of this team and what they’ve
been able to achieve for this company, our customers and our
shareholders.”
About Regions Financial Corporation
Regions Financial Corporation is a member of the S&P 100 Index and
Forbes Magazine's "Platinum 400" list of America's best big companies.
With $144 billion in assets, Regions is one of the nation’s
largest full-service providers of consumer and commercial banking,
trust, securities brokerage, mortgage and insurance products and
services. Regions serves customers in 16 states across the South,
Midwest and Texas, and through its subsidiary, Regions Bank, operates
over 1,900 banking offices and nearly 2,500 ATMs. Its investment and
securities brokerage, trust and asset management division, Morgan Keegan
& Company Inc., provides services from some 400 offices. Additional
information about Regions and its full line of products and services can
be found at www.regions.com.
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