on Wednesday named Stephen Steinour its new chairman, president and CEO, replacing the retired Thomas Hoaglin.
Steinour comes to Huntington with 29 years of banking experience, including 15 years at Citizens Financial Group in Providence, R.I., a unit of
Royal Bank of Scotland
. After rising to CEO, Steinour left Citizens last year to join CrossHarbor Capital Partners in Boston as a managing partner.
"We are extremely pleased and excited to have Steve as Huntington's new CEO," David Porteous, Huntington's lead director, said in a statement. "He is a proven leader in the industry, credited with growing Citizens from a $3 billion organization to one that exceeded $160 billion. He also brings very strong credit and risk management experience, at a time when the industry is facing unprecedented challenges."
Steinour worked earlier in his career at the Federal Deposit Insurance Corp. and Fleet Financial Group, later acquired by
Bank of America
. Citizens operates more than 1,600 branch offices in 13 states in the Northeast and Midwest, so he is familiar with Columbus, Ohio-based Huntington's home market.
"I am very privileged and really looking forward to joining Huntington," Steinour. "This company has the resources and scale to navigate successfully through the current economic challenges and take advantage of opportunities in the markets in which it competes. Huntington has built a rich heritage of being an impactful leader in every community in which it does business.
Huntington shares were sinking 18.4% to $4.82 in recent trading.
This article was written by a staff member of TheStreet.com.