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SunTrust Mortgage Names Peter E. Mahoney And Jack Wixted To New Leadership Posts

Stocks in this article: STI

RICHMOND, Va., June 11, 2012 /PRNewswire/ -- SunTrust Mortgage Chief Executive Officer Jerome Lienhard announced today two additions to his leadership team -- Peter E. Mahoney, named Executive Vice President, Mortgage Strategy; and Jack Wixted, named Executive Vice President and Chief Risk Officer, SunTrust Mortgage.

" Peter Mahoney and Jack Wixted are strong additions to our mortgage leadership team," said Mr. Lienhard.  "They bring industry and broad-based business perspective to their roles, and will be critical to our success in driving improvement in our client service quality, risk management and overall business performance."

Mr. Mahoney, who most recently was Managing Director, Mortgage Markets with IBM Corporation, will be responsible for strategy, planning and the operational response associated with compliance with business practice changes affecting the mortgage industry and SunTrust.  Previously, he was Managing Director of Business Development for Green Tree Servicing – a residential mortgage servicing firm – led national lending and investor relations and served as deputy general counsel for Freddie Mac, and worked in private law practice.  He earned his bachelor's degree in History and American Studies from The University of Virginia, and his J.D. from The University of Virginia School of Law. 

Mr. Wixted, who was Chief Risk Officer with PNC Mortgage, will serve as the senior risk executive for the mortgage business, overseeing credit and  operational risk units.  He previously held similar risk leadership roles with PNC Financial Services and National City Bank, and led supervisory and regulatory activities with the Federal Reserve Banks of Chicago and Cleveland.  He earned his bachelor's degree in Finance from Pennsylvania State University and his MBA in Banking, Finance and Organizational Development from Case Western Reserve University.

Both leaders report directly to Mr. Lienhard and are based in Richmond, where the mortgage business is headquartered.  Their appointments follow a recent announcement by Mr. Lienhard that Mortgage Banking Association CEO David Stevens would join SunTrust in mid-July as President of the business unit, also reporting to him.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients.   As of March 31, 2012, SunTrust had total assets of $178.2 billion and total deposits of $130.0 billion.  Through its flagship subsidiary, SunTrust Bank, the Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services.  Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com.

SOURCE SunTrust Banks, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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