Regions Bank Names Tom Speir as Head of Strategy and Corporate Development

Rhea-AI Summary

Regions Bank has appointed Tom Speir as head of Strategy and Corporate Development, effective immediately. He will lead the bank's mergers and acquisitions strategy, overseeing corporate development initiatives to enhance specialty capabilities and financial services. With over 20 years of experience, Speir previously served as assistant treasurer and head of Balance Sheet Management. Recent successful M&A activities include the acquisition of EnerBank and Sabal Capital Partners. Regions Financial Corporation operates approximately 1,300 banking offices with assets of $161 billion.

Positive

• Appointment of Tom Speir to lead mergers and acquisitions strategy.
• Speir has over 20 years of banking experience, enhancing leadership in corporate development.
• Recent successful M&A activities show the bank's potential for growth.

Negative

• None.

Experienced Regions executive to lead the bank’s mergers and acquisitions strategy.

BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Regions Bank on Monday announced Tom Speir has been elevated to serve as head of Strategy and Corporate Development. Speir will report to Regions Chief Financial Officer David Turner.

Tom Speir, head of Strategy and Corporate Development, Regions Bank (Photo: Business Wire)

In this role, Speir will lead the bank’s enterprise-wide strategic planning process and corporate development initiatives. He will be responsible for the bank’s mergers and acquisitions (M&A) strategy, identifying opportunities for Regions to further expand its range of specialty capabilities and high-value financial services for clients across the banking sector. In addition, he will oversee the bank’s Small Business Investment Company (SBIC) and strategic equity investment programs.

Speir brings 20 years of experience to his new role. He previously served as assistant treasurer and head of Balance Sheet Management for Regions. In this role, he was responsible for the bank’s interest rate, liquidity, and capital management strategies. Speir also had oversight of the bank’s securities portfolio, interest rate risk hedging strategies, and development and execution of the company’s capital planning process. As a result, Speir has worked closely with Regions’ business groups to advise on overall strategies, including critical product pricing and capital allocation decisions.

Speir joined Regions in 2009 after spending his early career at Wachovia Bank in Charlotte, where he served as securitized products portfolio manager in the Treasury Department with a focus on balance sheet management and credit hedging strategies. He began his banking career in Wachovia’s Finance Management Training Program.

“Tom has a deep understanding of the competitive financial services marketplace, and he brings an analytical, customer-focused approach to large-scale initiatives,” said Turner. “He and his team will focus on the products and services that are in greatest demand throughout our footprint, helping us advance our strategic plan and drive long-term, sustainable growth.”

Recent examples of Regions’ successful M&A strategy include the acquisitions of home improvement point-of-sale lender EnerBank, diversified financial services firm Sabal Capital Partners, LLC, and Clearsight Advisors, Inc., which provides M&A advisory services for business clients.

“Regions Bank operates with a forward-looking, innovative mindset, and we have solid opportunities to grow our business by connecting with new clients and adding further capabilities to meet the unique financial needs of consumers and companies alike,” said Speir. “I am looking forward to driving initiatives that reinforce the company’s unique culture, deliver clear business results, and foster even more innovation to further position the bank for our exciting future ahead.”

Speir is committed to giving back to the community by serving on the Advisory Board for Teach for America Alabama. In addition, he serves as co-chair for Regions’ 2022 United Way campaign. He earned his bachelor’s degree in Business Management, with a concentration in Finance, from North Carolina State University.

Speir succeeds Nikki Stephenson, who recently joined Regions’ Corporate Banking Group as head of Credit Products.

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $161 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 1,300 banking offices and more than 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/20220808005090/en/

Jeremy D. King

Regions Bank

205-264-4551

Regions News Online: regions.doingmoretoday.com

Regions News on Twitter: @Regions News

Source: Regions Financial Corporation

FAQ

Who is the new head of Strategy and Corporate Development at Regions Bank?

Tom Speir has been appointed as the head of Strategy and Corporate Development at Regions Bank.

What is Tom Speir's background before joining Regions Bank?

Before joining Regions, Tom Speir served at Wachovia Bank as a securitized products portfolio manager.

What is Regions Bank's approach towards mergers and acquisitions?

Regions Bank aims to expand its specialty capabilities and financial services through an active mergers and acquisitions strategy.

How many banking offices does Regions Bank operate?

Regions Bank operates approximately 1,300 banking offices.

What is the asset size of Regions Financial Corporation?

Regions Financial Corporation has assets totaling $161 billion.