SunTrust Seeks a New CIO

SunTrust Banks Inc.'s chief information officer, Timothy E. Sullivan, will retire at the end of next year.

Sullivan's departure is part of an ongoing shuffle of top management at the Atlanta-based bank. James M. Wells III retired as SunTrust's president and chief executive officer in April, and William H. Rogers Jr. succeeded him. Former corporate treasurer Aleem Gillani was appointed chief financial officer on June 1 and, earlier this month, Paul Burdiss (previously the treasurer of Comerica Inc.) was named Gillani's replacement. SunTrust shifted the prior CFO, Mark Chancy, to the new position of wholesale banking executive.

SunTrust said it will conduct an external search for a successor to Sullivan, who had previously worked for Wells Fargo & Co. Sullivan will remain in his current role, and receive his current pay package, through March. He will then work part time until the end of 2012, receiving a pro-rated salary and bonus.