Bloomberg News

SunTrust CEO Plans to Speed Branch Closings to Control Expenses

December 04, 2012

SunTrust Banks Inc. (STI:US), the eighth- largest U.S. commercial lender by deposits, is closing branches and trimming staff as it seeks to cut costs, according to Chief Executive Officer William Rogers.

The reductions may come at an “increased pace,” Rogers said today at an investor conference in New York sponsored by Goldman Sachs Group Inc. The Atlanta-based lender expects to finish 2012 with 5 percent fewer employees from a year earlier, Rogers said.

To contact the reporter on this story: Dakin Campbell in San Francisco at

To contact the editors responsible for this story: David Scheer at

Too Cool for Crisis Management

Companies Mentioned

  • STI
    (SunTrust Banks Inc)
    • $37.09 USD
    • 0.36
    • 0.97%
Market data is delayed at least 15 minutes.
blog comments powered by Disqus