Fulton Financial (FULT) in Lancaster, Pa., has hire a former SunTrust Banks (STI) executive as its next chief financial officer.
The $17 billion-asset company said late Thursday that Patrick Barrett will succeed Charles Nugent, who is retiring at the end of this year. Philip Wenger, Fulton's chairman, president and chief executive, hinted earlier this week that the company had selected a new CFO, though he declined to name the candidate.
Nugent has been the company's CFO since 1992. Barrett will join Fulton immediately as a senior executive vice president in advance of becoming CFO.
Barrett had been CFO of SunTrust's $66 billion-asset wholesale bank, which includes corporate and investment banking, commercial and business banking, commercial real estate and treasury and payment solutions.