Regions Financial Names Manager For Economic Development Initiatives

Regions Financial (NYSE:RF) has named Jeff Rabren to manage economic development initiatives for the company. Rabren’s initial focus will be on programs that encourage capital investment and job creation in Regions’ headquarters state of Alabama.

Rabren joined Regions in 2010 to manage state government affairs. In his expanded role as senior vice president, State Government Affairs and Economic Development, he will coordinate the company’s economic development initiatives as the liaison to public, private and non-profit economic development agencies.

“Jeff’s experience working with state and local governments and the non-profit sector make him ideally suited to forge stronger connections between our bankers and the economic development community,” said John Turner, South Region president for Regions Bank. “Every day our bankers work with companies large and small to provide both the capital and financial guidance needed to strengthen and expand their operations. When the public sector and private companies work together to generate sustainable economic growth and create jobs, we all win.”

Earlier this year, Regions established a $1 billion loan pool to provide economic development capital and spur business growth in Alabama. Rabren’s appointment strengthens Regions’ commitment to supporting economic development through community involvement, lending, and support for the recruitment and retention of industry.

“As the state’s largest private-sector employer headquartered in Alabama, and the only Fortune 500 company here, we have a unique opportunity to serve our state and our communities,” said Rabren. “We look forward to deepening our partnerships with the state Department of Commerce, economic developers, chambers of commerce and others to attract new business and industry to Alabama, while also helping existing industries grow and thrive.”

Prior to joining Regions, Rabren served as director of legislative affairs for former Alabama Gov. Bob Riley and legislative counsel in the Washington, D.C., office of former U.S. Rep. Terry Everett (R-AL). Rabren received his bachelor’s degree in accounting from the University of Alabama and his law degree from the University of Alabama School of Law. He is a member of the Board of Directors at Camp Smile-A-Mile, Alabama’s program for children with cancer. He also serves on the Board at Triumph Services, which helps adults with disabilities to live independently.

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $119 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, mortgage, and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,700 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.

Copyright Business Wire 2010

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