Synovus Financial Corp. said Monday that it had reorganized some of its business-line reporting, naming an executive to oversee its financial planning, mortgage, and insurance operations.
The $31 billion-asset Columbus, Ga., banking company said that Paul M. Todd was named to the new post of executive vice president in charge of Synovus Financial Management Services Inc., Synovus Mortgage Corp., and Synovus Insurance Services Inc. He has been the financial management business' chief operating officer and chief financial officer. A spokesman said the change took effect late last month.
In a related move, Andrew R. Klepchick resigned as the president of Synovus Financial Management to return to Creative Financial Group, a financial planning company he co-founded in 1988 that was bought by Synovus in February 2001. Creative Financial Group manages more than $900 million of assets.
Mr. Klepchick had run the financial management unit since August 2005, when his hiring ended a six-month search for a successor to Walter A. "Sonny" Deriso Jr. Mr. Deriso resigned in February of that year from his posts as a corporate vice chairman and the head of financial management services.
The Synovus spokesman said that Carter L. Mize, the president and CEO of the insurance unit, and Michael L. Padalino, the president and CEO of the mortgage unit, would keep their titles and report directly to Mr. Todd.
