Zions Bancorp. has purchased the former Atlanta home of its chief financial officer, Paul Burdiss, for about $1.7 million.
The Salt Lake City company obtained approval from its board's compensation committee to purchase the house, according to a regulatory filing. The $60 billion-asset Zions also paid closing costs on the transaction, which closed Jan. 22.
Zions bought the home "for internal operations purposes and to assist Mr. Burdiss with his family's relocation in connection with his appointment" as CFO, the filing said. It plans to market and resell the home and will bear any gain or loss associated with its sale.
Before joining Zions, Burdiss was corporate treasurer at the $191 billion-asset SunTrust Banks in Atlanta. He also previously worked at Comerica. He joined Zions in May, succeeding Doyle Arnold.