SunTrust Banks Inc. on Friday said chief executive James M. Wells 3rd has relinquished his post as president as part of a broad reorganization in the Atlanta company's executive suite.
SunTrust said that William H. Rogers Jr., 51, was named president; Mr. Wells, 62, remains chairman and chief executive. All the changes at the $174.8 billion-asset company took effect Friday, SunTrust said. Mr. Rogers was previously a corporate executive vice president in the company's wholesale, mortgage, wealth, and investment management businesses.
He now takes responsibility for SunTrust's geographic banking organization; the retail, commercial, mortgage, and wealth and investment management businesses; and corporate marketing, the company said.
As part of the reorganization, chief financial officer Mark A. Chancy, 44, takes responsibility for the corporate and investment banking business, as well as administrative operations. Several other executives also took on new responsibilities.