ATLANTA — SunTrust Banks Inc. on Tuesday said it is creating a consumer unit, as the regional bank follows larger rivals in reorganizing ahead of regulatory reform.
The Atlanta-based bank also shuffled its commercial and investment banking operations.
The Obama Administration has called on banks to improve their consumer operations after the recession revealed problems in the sector. And Congress is considering several consumer-focused regulatory changes, including adding a division to the Federal Reserve or creating a freestanding agency to oversee consumer banking products like savings accounts, mortgages and credit cards.
SunTrust is one of the top 10 issuers of debit cards in the U.S.
The bank named C.T. Hill, 59, to lead the new consumer banking unit, which includes its deposit and lending products, including mortgages and credit cards. Hill previously ran the bank's Mid-Atlantic banking group and retail operations.
Thomas G. Kuntz, 53, was named head of SunTrust's geographic banking organization, which will oversee 16 units that comprise nearly 1,700 branches in 11 states and the District of Columbia. He was head of the company's Florida banking group and its commercial business.
Amy W. Medendorp, 48, will now lead the commercial business. She was co-head of SunTrust's corporate and investment banking. Hugh S. (Beau) Cummins III, 47, takes over leadership of corporate and investment banking after sharing that role with Medendorp.
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