SunTrust Banks in Atlanta announced several leadership appointments Wednesday, naming two new co-chief operating officers and its first female chief financial officer.
Allison Dukes, currently the company's head of commercial lending, will succeed current CFO Aleem Gillani when he retires on March 31. Mark Chancy, vice chairman and head of SunTrust’s consumer segment, and Beau Cummins, corporate executive vice president and head of the SunTrust’s wholesale business, will become co-chief operating officers, effective immediately.
"Mark Chancy and Beau Cummins are accomplished leaders with experience leading large organizations and delivering value for our clients, teammates, communities and shareholders. This expansion of their respective roles will build upon that success," Chairman and CEO Bill Rogers said in a press release.
In a research note, analysts with Evercore ISI suggested that while Rogers, at 60 years old, has no near-term plans to retire, the appointment of Chancy and Cummins suggests that they are front-runners to succeed him.
In addition to operations supporting their respective businesses, Chancy will also oversee marketing and data and analytics, while Cummins will oversee the company’s efficiency office and procurement.
Meanwhile, Dukes will begin reporting to Rogers immediately as part of the transition. Gillani, who has been CFO since 2011, did not disclose what he plans to do next. SunTrust emphasized that the Gillani’s departure was unrelated to the COO appointments.
Dukes has been with the $206 billion-asset SunTrust since 1997 and has worked in several areas of the organization, including commercial banking, finance and private wealth management.