Regions Bank Names Abbas Merchant as Chief Marketing Officer as Michele Elrod Announces Retirement

Rhea-AI Summary

Regions Bank announced Abbas Merchant as the new chief marketing officer, succeeding Michele Elrod. Merchant, who has prior experience at M&T Bank and U.S. Bancorp, aims to enhance customer engagement and elevate the bank’s market presence. Elrod's retirement, effective this month, follows her impactful tenure where she led successful marketing initiatives, including the LifeGreen brand. Regions Financial, with $147 billion in assets, is one of the largest banking providers in the U.S.

Positive

• Abbas Merchant has a strong marketing background, previously leading consumer and business marketing at M&T Bank, which may enhance Regions' marketing strategies.
• Merchant's focus on data-driven marketing is expected to improve customer engagement and satisfaction.

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• None.

Regions Bank on Monday announced Abbas Merchant as chief marketing officer, succeeding Michele Elrod in leading the bank’s Corporate Marketing group.

Abbas Merchant, left, joins Regions Bank as chief marketing officer, succeeding Michele Elrod, right, in leading the bank’s Corporate Marketing group. (Photo: Business Wire)

“Michele has been the driving force behind the strategic marketing programs that set Regions Bank apart and deepen our connections with the people and communities we serve,” said John Turner, president and CEO of Regions Financial Corp. “We are tremendously grateful for the immeasurable contributions Michele has made during her career with Regions. I know Abbas will build on Michele’s legacy of keeping customers first while consistently innovating in how we reach consumers and raise Regions’ profile in the marketplace. We are focused on providing personalized experiences and solutions for our customers, and the experience and insights Abbas brings to Regions will help us advance this priority.”

Merchant is a data-driven marketing leader who comes to Regions after serving at M&T Bank as group vice president of Consumer and Business Marketing and Customer Analytics and Sciences. There, he developed the company’s marketing and communications vision and strategy. Further, he built new capabilities, including leveraging talent and technology to support modern marketing initiatives and generate proven results. Before his 12 years at M&T, Merchant led analytics and other marketing operations at U.S. Bancorp and the Scotts Miracle-Gro Company.

“People and businesses have many options when they choose where to bank, and it’s the team, the vision and the values here at Regions that give us a competitive edge in growing our business,” Merchant said. “The art and science of connecting with customers continues to evolve. So does banking itself. The leadership at Regions is dedicated to meeting the needs of customers today, tomorrow and into the future, and I am excited to join colleagues who are laser focused on delivering a superior customer experience while elevating Regions’ name in the minds of consumers and clients.”

During her tenure with Regions and predecessor bank AmSouth, Elrod has been instrumental in creating comprehensive brands, including the successful “Relationship People” brand at AmSouth and the “Expect More” brand at Regions after the two companies merged. Elrod and her team also launched highly impactful campaigns that continue to resonate – including Regions’ signature LifeGreen bicycle, several memorable advertisements, and the company’s approach to leveraging social media to serve and support customers.

While the impact of Elrod’s work is seen in marketing campaigns that are creative, her decisions are always strategic – guided firmly by extensive data, thorough research and a never-ending focus on how the bank can relate better to consumers and help them reach their financial goals.

“The most successful marketing teams take an analytical approach toward understanding people’s needs, and they put the customer first in every decision that is made,” Elrod said. “That’s what we do here at Regions, and I am immensely proud of our accomplishments. I am also excited to see how Abbas and the marketing team will continue Regions’ innovation in marketing and service. Across our industry and beyond, Abbas is well known as a leader in data-driven, customer-focused marketing. I have admired Abbas and the quality of his work for quite some time, and I am thrilled that Regions and our customers will now benefit from his expertise.”

Elrod’s retirement is effective this month. Merchant officially joined the bank on Jan. 19 working closely with Elrod as he assumed his new leadership role.

About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $147 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 approximately 1,400 banking offices and 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/20210125005059/en/

FAQ

Who is the new chief marketing officer of Regions Bank?

Abbas Merchant is the new chief marketing officer, succeeding Michele Elrod.

What is the background of Abbas Merchant?

Abbas Merchant previously served as group vice president of Consumer and Business Marketing at M&T Bank.

When did Abbas Merchant officially join Regions Bank?

Merchant officially joined Regions Bank on January 19.

What are some key accomplishments of Michele Elrod?

Michele Elrod led successful marketing campaigns like the LifeGreen brand and the Expect More brand.

What is Regions Financial Corporation's stock symbol?

Regions Financial Corporation's stock symbol is RF.