Regions promotes executive to head strategy, corporate development

Regions Financial in Birmingham, Alabama, has promoted Tom Speir to head of strategy and corporate development, leading the bank's merger and acquisition efforts.

Speir, a 13-year company veteran who was previously assistant treasurer and head of balance sheet management, assumed the new role on June 15. He reports to Chief Financial Officer David Turner.

In his new job, Speir is tasked with finding further opportunities to expand the $161 billion-asset bank's specialty capabilities, Regions said in a press release.

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Regions has made a string of nonbank acquisitions in recent years. Last October, it announced the acquisition of Sabal Capital Partners, which specialized in commercial real estate lending. And in December it reached a deal to buy tech-focused M&A firm Clearsight Advisors.

Regions' corporate bank continues to invest in strategic acquisitions, as well as talent and technology, President and CEO John Turner said during the company's July 22 earnings call.

Speir started his career at Wachovia Bank and has 20 years of experience in the industry. His new responsibilities include expanding "high-value" financial services for clients, Regions said, and overseeing the company's Small Business Investment Company and strategic equity investment teams.

"Tom has a deep understanding of the competitive financial services marketplace, and he brings an analytical, customer-focused approach to large-scale initiatives," David Turner said in the press release.

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He added that Speir's team will "focus on the products and services that are in greatest demand throughout our footprint, helping us advance our strategic plan and drive long-term, sustainable growth."

Speir oversees two divisions that previously had been separate, a bank spokesperson said in an email.

Kate Danella, who was previously chief strategy and client experience officer, transitioned to head of consumer banking two months ago. And Nikki Stephenson, previously the head of corporate development, is now head of credit products.

Regions has made a number of changes to its executive leadership team in recent months.

In May, the company named Scott Peters, who had been leading its consumer banking group, as chief transformation officer, and it hired Dan Massey, a former Truist Financial executive, as chief enterprise operations and technology officer.