Regions recently announced the promotion of Tom Speir to serve as the institution’s head of Strategy and Corporate Development. He previously served as assistant treasurer and Regions’ head of Balance Sheet Management.
In his new role, Speir will lead the bank’s enterprise-wide strategic planning process and corporate development initiatives, according to a release.
Speir’s new responsibilities will include leading the bank’s mergers and acquisitions strategy. He will be tasked with identifying opportunities for Regions to further expand its range of specialty capabilities and high-value financial services for clients across the banking sector.
According to the announcement, he will also oversee the bank’s Small Business Investment Company (SBIC) and strategic equity investment programs. Speir will now report to Regions chief financial officer David Turner.
In a statement announcing the promotion, Turner asserted that Speir’s expertise would help Regions execute its strategic plans for “long-term, sustainable growth.”
“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.”
Prior to joining Regions in 2009, Speir spent his early career at Wachovia Bank in Charlotte, N.C. In his role at Wachovia, he served as securitized products portfolio manager in the Treasury Department with a focus on balance sheet management and credit hedging strategies.
Speir stated his intentions of advancing Regions’ innovation goals in an effort to expand its ever-growing customer service portfolio.
“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,” proclaimed 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.”
David Palmore is a contributing writer to Yellowhammer News