Centura Banks Inc. shuffled its top management-electing Cecil W. Sewell chairman and CEO, as well as a five-member management team of three vice chairmen, a new chief financial officer, and a chief knowledge officer responsible for the bank's technology operations-with the intention of making the $6 billion-asset state-chartered bank a financial services supermarket earning about half its revenue from non-interest income, doing little product pioneering. "The pioneers get the arrows and the settlers get the land," Sewell says. "We like to be early settlers."
Reaching the 50 percent figure means hard work for Rocky Mount, NC- based Centura. Non- interest income totals about 28.7 percent of the bank's total income; Centura's 1996 net interest income was $250 million, while non-interest income was about $101 million. H. Kell Landis III, one of the three new vice chairmen, will be responsible for a new Financial Services Group, charged with reshaping the bank's income stream.