A BB&T unit that finances power equipment has a new president.
Sheffield Financial in Clemmons, N.C., said in a press release Monday that Jeff Ellison had succeeded Jack Snow, who remains the unit's chief executive. Ellison, 53, took over his new role in June, according to his
Sheffield serves more than 30,000 outdoor power equipment, power sports and trailer dealers nationwide. Snow founded the business in 1992 and sold it to the $222 billion-asset BB&T, of Winston-Salem, N.C., in 1998.
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B&T in Winston-Salem, N.C., said that Brant Standridge will succeed Steven Wiggs as its lending group manager on Aug. 1.
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Kelly King, BB&Ts chairman and chief executive, said during his companys quarterly conference call that he supported the effort led by JPMorgan Chase Chairman and CEO Jamie Dimon to do away with quarterly earnings projections.
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BB&T in Winston-Salem, N.C., reported higher quarterly profit that reflected loan growth and its recent acquisitions.
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Ellison previously served as president of BB&T's mortgage warehouse lending division.
"We just got so big that I needed some help because I can't be in 40 places at one time," Snow said in the release, noting that Sheffield has funded more than $16 billion in loans since its creation.
