Synovus Names New Enterprise and Operational Risk Executive Director

Rhea-AI Summary

Synovus Financial Corp. (NYSE: SNV) has appointed Michael Colasso as the new enterprise and operational risk executive director, enhancing its risk management capabilities. Colasso, who has over 15 years of experience, reports to Chief Risk Officer Shellie Creson in Atlanta, Georgia. His role focuses on strategic design and execution of risk programs. Previously, he led enterprise risk management at Truist and worked with the Federal Reserve Bank of Atlanta. With approximately $59 billion in assets, Synovus offers diverse financial services across multiple states.

Positive

• Appointment of experienced Michael Colasso as enterprise and operational risk executive director.
• Colasso's experience includes leadership in enterprise risk management at Truist and significant experience at the Federal Reserve Bank of Atlanta.
• Strengthening of risk management practices as Synovus continues to grow.

Negative

• None.

COLUMBUS, Ga.--(BUSINESS WIRE)-- Synovus Financial Corp. (NYSE: SNV) today announced the hiring of Michael Colasso as the company’s new enterprise and operational risk executive director. Colasso reports to Executive Vice President and Chief Risk Officer Shellie Creson and is based in Atlanta, Georgia. He is responsible for the strategic design and execution of Synovus’ enterprise and operational risk programs and oversight, including frameworks and methodologies to support effective risk identification, assessment, mitigation and monitoring.

Michael Colasso, Synovus enterprise and operational risk executive director (Photo: Business Wire)

“Michael’s impressive track record and depth of experience in risk management will ensure Synovus continues to advance its operational risk discipline and supporting policies and practices,” said Creson. “He will provide valuable thought leadership to ensure our risk management practices continue to evolve as our organization grows.”

Colasso has more than 15 years of financial risk management experience. He joins Synovus from Truist, where he most recently served as head of enterprise risk management programs and framework since 2019. Colasso began his career in fraud and forensics at KPMG and served as a senior examiner at the Federal Reserve Bank of Atlanta for banks with more than $100 billion in assets.

Colasso is a graduate of Emory University. He holds a certified public accountant license and certified fraud examiner designation.

Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $59 billion in assets. Synovus provides commercial and consumer banking and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, capital markets and international banking. Synovus has branches in Georgia, Alabama, South Carolina, Florida and Tennessee. Synovus is a Great Place to Work-Certified Company and is on the web at synovus.com and on Twitter, Facebook, LinkedIn and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221216005029/en/

Audria Belton

media@synovus.com

Source: Synovus Financial Corp.

FAQ

Who is the new enterprise and operational risk executive director at Synovus Financial Corp. (SNV)?

Michael Colasso has been appointed as the new enterprise and operational risk executive director at Synovus Financial Corp. (SNV).

What is the experience of Michael Colasso at Synovus Financial Corp. (SNV)?

Michael Colasso has over 15 years of experience in financial risk management, previously serving as head of enterprise risk management at Truist and working with the Federal Reserve Bank of Atlanta.

What is the main responsibility of Michael Colasso at Synovus Financial Corp. (SNV)?

Michael Colasso is responsible for the strategic design and execution of Synovus' enterprise and operational risk programs, including frameworks for risk identification and mitigation.

What is the total asset value of Synovus Financial Corp. (SNV)?

Synovus Financial Corp. (SNV) has approximately $59 billion in assets.