SunTrust Expands Wholesale Auto Dealer Financial Services to New Markets
PR Newswire Association LLC
ATLANTA, June 17, 2014 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) is expanding its wholesale automobile dealer financial services to Dallas, ChicagoBoston, offering a full line of wholesale and indirect banking products to dealers in these metropolitan areas. SunTrust has served auto dealer clients in the Southeast for more than 50 years.
SunTrust Robinson Humphrey recently extended its corporate banking presence to these same markets as part of a national expansion strategy.
"SunTrust has a long history of serving auto dealers and we understand the business," said Beau Cummins, commercial and business banking executive. "We will bring personalized service, proven expertise and the full financial capabilities of SunTrust Bank and SunTrust Robinson Humphrey to the industry in these dynamic regions."
Wes McKnight and Greg Buell will lead the Dallas-based wholesale auto dealer finance team. McKnight joins SunTrust following 15 years in the auto industry, where he has worked with all auto manufacturer brands. Buell has more than 20 years of extensive risk management and servicing experience within the auto financial services industry, including credit operations, dealer credit, collections, and sales and call center management.
Scott Worthing is leading the Chicago wholesale auto dealer team, bringing more than 20 years of dealer financial services management experience, including a proficiency in developing, launching and marketing new and innovative products and services, combined with OEM executive relationship experience.
In Boston, Michael Walsh brings 27 years of auto sales and finance experience, including the development of dealership group relationships within the New England and Mid-Atlantic markets.
About SunTrust Banks, Inc. SunTrust Banks, Inc. (NYSE: STI), headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of March 31, 2014, SunTrust had total assets of $179.5 billion and total deposits of $132.9 billion. Through its flagship subsidiary, SunTrust Bank, the Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through its various subsidiaries, the company provides mortgage banking, asset management, securities brokerage, and capital market services. SunTrust's Internet address is www.suntrust.com.
About SunTrust Robinson Humphrey SunTrust Robinson Humphrey is the marketing name for the corporate and investment banking services of SunTrust Banks, Inc. and its subsidiaries. Debt and equity underwriting, trading, research and sales, loan syndications, municipal securities trading and sales, merger and acquisition advisory services and other investment banking activities are offered by SunTrust Robinson Humphrey, Inc., member FINRA and SIPC. Loans and loan related products, treasury management, foreign exchange and financial management products and services and other commercial banking services are offered by SunTrust Bank, member FDIC.
SunTrust Robinson Humphrey has extensive experience working with public and private companies of all sizes – from emerging growth to the Fortune 500. While it offers a complete array of solutions and advice for companies across all industries, it provides in-depth industry expertise and dedicated corporate and investment banking practices for certain core sectors, including business services, financial sponsors, building products, healthcare, consumer and retail, media and communications, energy, transportation, financial services and technology, and real estate. STRH's internet address is www.suntrustrh.com.