BIRMINGHAM, Ala. — Regions Financial Corp. (NYSE:RF) has realigned its business units and geographical leadership, creating a General Bank, which consists of the businesses that serve retail, wealth management, and small business customers, and a Corporate Bank, which consists of the businesses that serve middle-market and larger commercial clients.
John Owen, head of business lines, has been named head of the General Bank, and South Region president John Turner has been named head of the Corporate Bank. Separately, John Asbury, who previously led the Business Services Group, has resigned due to family considerations that require relocation.
Bill Horton, the North Central Alabama Area president, will succeed Turner as president of the South Region, which encompasses Alabama, Mississippi, South Louisiana and the Florida Panhandle, and he will join the company’s Operating Committee and report to Owen. Leroy Abrahams, currently head of strategic and corporate planning, has been named North Central Alabama Area president, succeeding Horton.
“This realignment creates a more streamlined structure at the top of the company and is a more effective model for executing our strategy, managing our performance and serving our customers,” said Regions chairman, president and CEO Grayson Hall. “We appreciate John Asbury’s leadership and six years of service to our company, and we understand and respect his decision.”