Mike Branca Joins Regions Bank to Lead Total Rewards

Rhea-AI Summary

Regions Bank has appointed Michael Branca as head of Total Rewards, reporting to Chief Administrative Officer Dave Keenan. Branca brings 31 years of financial services experience, most recently serving at Wells Fargo, where he oversaw Total Rewards and Performance Management. His hiring follows the retirement announcement of Jill Shelton, who has been with Regions for 16 years. Branca's expertise is expected to enhance Regions' compensation and benefits program aimed at attracting and retaining top talent.

Positive

• Michael Branca's extensive experience in financial services and Total Rewards will strengthen Regions' compensation and benefits framework.
• Branca's appointment aims to improve talent attraction and retention through competitive compensation programs.

Negative

• Transitioning leadership from Jill Shelton may cause temporary disruptions in the Total Rewards strategy.

Regions Bank today announced that Michael “Mike” Branca has been named head of Total Rewards reporting to Dave Keenan, Chief Administrative and Human Resources Officer. In this capacity, Branca will oversee the development, design and administration of Regions’ compensation and benefits plans, programs and practices.

Mike Branca (Photo: Business Wire)

Branca has spent his entire 31-year career in financial services, including 24 years leading compensation and benefits for a variety of business groups and at the enterprise level, both in the U.S. and abroad. Most recently Branca was head of Total Rewards and Performance Management for Wells Fargo with responsibility for benefits, recognition, executive compensation, incentive management, governance and performance management. Previously Branca held senior roles in Compensation and Total Rewards at Bank of America and MBNA. He received a Bachelor of Arts degree in Economics from Georgetown University and a Master of Business Administration degree from the University of Delaware.

“I am excited to have a leader with Mike’s experience and strategic approach joining the Regions team,” said Keenan. “His background in Total Rewards design and delivery through a people-centered approach will enable us to build on Regions’ competitive compensation and benefits program to attract and retain top talent.”

Branca fills the role currently held by Jill Shelton who will retire from Regions at the end of the year after 16 years with the bank and its predecessors and an expansive 40-year career in human resources, compensation and benefits.

“Jill has made an extraordinary contribution to the Human Resources team and to the bank,” said Keenan. “She is one of the most dedicated and committed professionals that I’ve worked with in my career and it has been both a pleasure and a privilege to work alongside her for the last 16 years.”

Shelton will assist with the Total Rewards leadership transition and consult on a variety of strategic projects prior to her retirement in December 2021.

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $153 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and approximately 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210614005087/en/

FAQ

Who is the new head of Total Rewards at Regions Bank?

Michael Branca has been appointed as head of Total Rewards at Regions Bank.

What experience does Michael Branca bring to Regions Bank?

Michael Branca has 31 years of experience in financial services, previously leading Total Rewards at Wells Fargo.

What position did Jill Shelton hold at Regions Bank?

Jill Shelton was the head of Total Rewards before announcing her retirement.

What is Regions Bank's stock symbol?

The stock symbol for Regions Financial Corporation is RF.

When is Jill Shelton's retirement from Regions Bank?

Jill Shelton is set to retire at the end of the year after 16 years with Regions.