BIRMINGHAM, Ala.--(BUSINESS WIRE)--Regions Bank (NYSE:RF) today introduced the leadership team and organizational structure for the company’s Wealth Management Group. The appointments were made in conjunction with the expansion of Regions’ Wealth Management solutions for individual and institutional clients.
“In an increasingly complex world, our goal is to make financial management simple, convenient, and more rewarding for our clients,” said Bill Ritter, senior executive vice president and head of the Regions Wealth Management Group. “For more than a century, Regions has helped individuals, families and institutions achieve financial success, and we are pleased to build on that legacy as we introduce Regions Wealth Management across the 16 states Regions serves.”
Regions created the Wealth Management Group in June 2011, integrating its existing Trust, Private Banking, Asset Management and Insurance units within a single business line. Regions Wealth Management provides banking, investment, trust, and insurance services to individual and institutional clients through four divisions: Regions Private Wealth Management, Regions Institutional Services, Regions Investment Services, and Regions Insurance Group.
Regions Private Wealth Management, led by Nick Stonestreet, offers comprehensive financial planning, investment, and banking solutions for affluent clients through dedicated wealth advisors. The division integrates the company’s Personal Trust unit and its Private Banking group, which Stonestreet has led since 2009. Regions’ unique approach offers clients a risk-based wealth allocation model, called the Regions Wealth Assessment SM; combined with the Regions Open Architecture solution, offering clients access to premier Investment Managers. With total assets of more than $22 billion, Regions Private Wealth Management operates 50 offices and serves clients in 16 states.
Regions Institutional Services, led by Ken Alderman, provides investment, administrative and trustee solutions to corporate, non-profit, governmental and Taft Hartley clients. Capabilities include asset management, retirement, endowments and foundations services, corporate trust, escrow, funeral trust and custody services. The division was formed through the combination of Regions’ existing Asset Management and Corporate Trust units, both previously led by Alderman. Institutional Services has more than $50 billion in assets under administration. Regions Bank has more than 80 years of experience serving Corporate Trust clients and is the fifth largest trustee bank in the U.S. with 17 offices in 12 states. Regions is also the largest bank provider of funeral and cemetery trust and custody services in the nation.
Alderman is also chairman of Regions Investment Management, Inc. (RIM), a Registered Investment Advisor and wholly owned subsidiary of Regions Financial, managing equity, fixed income, and balanced portfolios for clients through proprietary separately managed accounts (SMAs). Regions Investment Management actively manages nearly $10 billion in assets for a diverse client base, including high-net-worth individuals and family offices, public funds, corporations, Taft-Hartley plans, and endowments and foundations.
Regions Investment Services, led by Jim Nonnengard, offers a full line of fixed annuities, life insurance and wealth transfer products through licensed associates in Regions Bank branches. Nonnengard has been responsible for the company’s investment services unit since 2003. He is also leading Regions’ initiative to provide investing, retirement and income planning solutions to the mass market and mass affluent customer segments, delivered by branch-based financial consultants.
Regions Insurance Group, led by Curren Coco, provides comprehensive consumer and commercial risk solutions through a network of more than 150 agents in Arkansas, Alabama, Louisiana, Mississippi, Indiana, and Tennessee. Coco has managed the company’s insurance group since 2009, including Regions Insurance Agencies and Regions Insurance Services, which markets, administrates, and is the agency for all bank platform related insurance products. Regions Insurance Group is the third-largest bank-owned broker and one of the top 20 retail insurance brokers in the U.S.
Regions also appointed two executives to focus on client experience, product development, and operations within the Wealth Management Group.
Anne Copeland joined Regions Financial Corporation in April 2012 to manage Product and Client Experience for the Wealth Management Group. Copeland is a seasoned wealth management executive with more than 22 years leadership experience in the industry. Most recently she served as executive vice president and Senior Managing Director of Wells Fargo Bank’s Wealth Management Group.
Mike Daniel was appointed Chief Operating Officer for Regions Wealth Management, responsible for operations, technology, tax, incentive administration, reconciliation and control, and legal. Daniel also oversees centralized trust account administration and the Natural Resources and Real Estate group that manages natural resource and real estate properties held in client accounts.
About Regions Financial Corporation
Regions Financial Corporation, with $122 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 2,100 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.