Regions Financial in Birmingham, Ala., has named José S. Suquet, the president and CEO at Pan-American Life Insurance in New Orleans, to its board of directors.
Suquet's appointment, effective immediately, increases the size of Regions' board from 13 to 14 members and marks the second time in three months that Regions has beefed up its board.
In November, the $125 billion-asset Regions expanded the board from 11 to 13 members when it brought in two former corporate CEOs – Samuel Di Piazza, a onetime global CEO at PricewaterhouseCoopers and James Prokopanko, a former chief at the agricultural concern Mosaic -- as independent directors.
Thirteen of Regions' 14 directors are independent. The lone insider is Regions' Chairman, President and CEO Grayson Hall.
Suquet, 60, has served as president and CEO at Pan-American since 2004. He previously held top executive posts at insurers AXA Financial and Equitable Life. He is also a former director at the Federal Reserve Bank of Atlanta, where he once chaired the retail payments oversight committee.
At Regions, Suquet will serve on the risk and compensation committees.