Regions Financial has a new chief executive for its insurance business.

The Birmingham, Ala., company on Friday promoted Rick Ulmer to the post. He will report directly to Bill Ritter, head of Regions Wealth Management.

Ulmer joined Regions Insurance Group in 2013 and most recently oversaw operations in several Midwestern and Southern states. He previously worked at Marsh USA, a risk management company in New York, and MMI Agency, a marketing company in Houston.

Ulmer succeeds Curren Coco, who is leaving "to pursue other interests," Regions said in a press release.

The $126 billion-asset Regions has expanded its insurance unit over the past year, including through acquisitions, as part of a broader effort to boost fees.

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