Regions Financial Corp. (NYSE:RF) announced today that it has realigned its business units and geographical leadership, creating a General Bank, which consists of the businesses that serve retail, wealth management, and small business customers, and a Corporate Bank, which consists of the businesses that serve middle-market and larger commercial clients. John Owen, Head of Business Lines, has been named head of the General Bank, and South Region President John Turner has been named head of the Corporate Bank. Separately, John Asbury, who previously led the Business Services Group, has resigned due to family considerations that require relocation.
Bill Horton, the North Central Alabama Area President, will succeed Turner as president of the South Region, which encompasses Alabama, Mississippi, South Louisiana, and the Florida Panhandle, and he will join the company’s Operating Committee and report to John Owen. Leroy Abrahams, currently head of Strategic and Corporate Planning, has been named North Central Alabama Area President, succeeding Horton.
“This realignment creates a more streamlined structure at the top of the company and is a more effective model for executing our strategy, managing our performance and serving our customers,” said Regions Chairman, President and CEO Grayson Hall. “We appreciate John Asbury’s leadership and six years of service to our company, and we understand and respect his decision.”
John Owen has served as head of Business Lines for Regions since 2012. Previously he led Regions’ Consumer Services Group from 2009 to 2012 and has also led Operations and Technology. Before joining Regions in 2007, he served as chief executive officer of Assurant Specialty Property, a Fortune 500 company based in Atlanta, Georgia. Owen began his service at Assurant in 1998 as senior vice president of Information Technology. He previously held the position of chief operating officer of Assurant’s Property and Solutions Group and then was promoted to chief executive officer. He graduated from Auburn University’s School of Engineering with a bachelor’s degree in Aviation Management.