SunTrust Banks Inc. said longtime executive and vice chairman William Reed Jr. is leaving the Atlanta company.

Reed, 62, will retire Aug. 31, SunTrust said in a filing late Thursday with the Securities and Exchange Commission. Reed, who was president and chief executive of National Commerce Financial Corp. of Memphis when it was sold to SunTrust in October 2004, will remain a consultant to the $179.1 billion-asset SunTrust through September 2011, earning about $600,000.

Reed had been in charge of SunTrust's banking operations before a management shake-up in December.

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