Regions Bank has announced the retirement of Ronnie Smith, the head of the company’s Corporate Banking Group, after more than four decades of service. Brian Willman, who has been with the bank for 15 years, will succeed Smith as the head of Regions’ Corporate Banking Group, while Nikki Stephenson will be elevated to serve as head of Commercial Banking.
Brian Willman, as the head of the Corporate Banking Group, will report directly to John Turner, Chairman, President, and CEO of Regions Financial Corp. Willman joined the bank in 2009 and has held various leadership roles before being appointed as the head of Corporate Banking.
Nikki Stephenson, with over 16 years of experience meeting the financial needs of Regions’ business clients, will report directly to Willman in her new role as head of Commercial Banking.
The transition of leadership is expected to be smooth, with Smith, Willman, and Stephenson working closely with each other and additional leaders from Regions’ Corporate Banking Group.
Regions Financial Corporation, with $154 billion in assets, is a member of the S&P 500 Index and operates approximately 1,250 banking offices and more than 2,000 ATMs.
The press release does not provide specific figures related to the financial performance of the bank or the impact of the leadership changes on its operations. The market has reacted to these announcements by moving the company's shares 0.2% to a price of $20.79. Check out the company's full 8-K submission here.
