Regions Financial Corp.’s CFO David Turner to Retire After 20 Years
Regions Financial Corp.’s Chief Financial Officer, David Turner, is set to retire on March 31 after serving the company for two decades. This announcement was made by the bank on Monday, and it marks the end of an era for Turner at the Birmingham, Alabama-based regional bank. Turner will be succeeded by Anil Chadha, who currently holds the position of controller and head of corporate finance at Regions.
Steady Leadership and Financial Acumen
CEO John Turner praised David Turner for his steady and trusted leadership during some of the most critical moments in the company’s history. He highlighted Turner’s financial acumen, integrity, and commitment to making sound strategic decisions that have left a lasting legacy at Regions. David Turner first joined Regions in 2005 to lead the internal audit division and was later promoted to CFO in 2010. Prior to his tenure at Regions, Turner had a successful finance career with stints at KPMG and Arthur Andersen.
Key Contributions to Regions Financial Corp.
Regions attributes much of its success in navigating the challenges of the banking sector to David Turner’s leadership. His focus on effective capital allocation and prudent risk management has been instrumental in maintaining the bank’s financial health and performance. Turner expressed confidence in Regions’ future success and expressed his excitement about passing the baton to Anil Chadha, whom he described as a strong and capable leader with deep expertise in finance and risk management.
Anil Chadha’s Background and Expertise
Anil Chadha, who will succeed David Turner as CFO, joined Regions in 2011 after holding positions at Ally Financial, Wells Fargo, and Capital One. In his current role as controller and head of corporate finance, Chadha has overseen financial reporting, accounting policy, accounting operations, and financial planning activities. He has also managed capital, funding, and liquidity as assistant treasurer at Regions, demonstrating a strong background in financial management and risk assessment.
Smooth Transition and Future Plans
Both David Turner and Anil Chadha will work closely together until the end of March to ensure a smooth transition. Piper Sandler analyst Scott Siefers commended Chadha’s suitability for the role based on his experience and expertise. While acknowledging David Turner’s highly regarded status, Siefers noted that Chadha is well-equipped to take on the responsibilities of CFO at Regions. Chadha expressed his gratitude for the opportunity to succeed Turner and highlighted the privilege of working with him.
Overall, the retirement of David Turner and the appointment of Anil Chadha signal a new chapter for Regions Financial Corp. as they continue to focus on financial stability and strategic growth in the banking sector.
Sources:Here
