is making a change to its executive lineup.
Phil Humann, the chairman and CEO of SunTrust for the past eight years, is relinquishing his responsibilities as head of the Atlanta bank at the end of this year.
James Wells 3d, SunTrust's president and COO, will succeed Humann as CEO, where he will be responsible for the bank's overall business operations and financial performance. Wells will keep the title of president along with CEO. He was also elected to SunTrust's board, where he is chairman of the executive committee.
Humann, who is 61, will remain chairman of SunTrust's board. The company has decided not to name a new COO right now, it says.
SunTrust, which has $183.1 billion in assets, says Humann's new role will focus "primarily on board matters and certain industry and community-related matters."
Shares of the company rose 20 cents on Tuesday, to $79.20.