Regions Financial Corp. has named O.B. Grayson Hall — a 29-year company veteran — president and chief operating officer of the Birmingham, Ala., lender.

Hall , 52, joined the Regions board in December as vice chairman and currently runs the $144 billion-asset company’s general banking group.

Dowd Ritter remains chairman and chief executive but cedes the president's title to Hall. Ritter is 62 and has to retire at 65. COO is a new position for the company.

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