On May 23, Huntington Bancshares Incorporated and Thomas C. Shafer agreed that Shafer will retire from the company effective Dec. 31, 2022, according to a filing with the Securities and Exchange Commission. Shafer will step down from his role as the company’s Senior Executive Vice President and Co-President, Commercial Bank, effective June 30, and will continue to serve as Senior Executive Vice President in a senior advisory capacity for the company from July 1, 2022, through the end of the company’s fiscal year. As of July 1, 2022, Scott Kleinman will be President, Commercial Bank.
Shafer Leads the company’s Middle Market, Commercial Real Estate and Regional Government Banking Teams and is based out of Huntington’s Commercial Bank headquarters in Detroit, MI.
Shafer joined Huntington in 2021 as part of the merger with TCF, where he served as Chief Executive Officer of TCF National Bank and Vice Chairman of the Board of TCF Financial Corporation. At Huntington, he has successfully led Middle Market, Commercial Real Estate and Regional Government Banking teams for the Commercial Bank. Shafer also served in executive roles at TCF Bank and its predecessor organizations, Chemical Bank, Talmer Bancorp Inc. and First Place Bank. Before joining Talmer in 2013, he served Citizens Republic Bancorp for 16 years in various executive-level positions.
“In his 18 months since joining Huntington, Tom has made a meaningful and lasting impact, from helping navigate the incredibly complex merger with TCF to driving impressive growth within our Commercial Bank segment,” said Steve Steinour, Huntington’s Chairman, President and CEO. “I am grateful for everything Tom has done for Huntington and that he has agreed to continue to serve in a senior advisory capacity for the bank.
“I also am pleased Scott will assume additional leadership responsibilities of our Commercial Bank. Scott’s strategic vision, drive and discipline have enabled tremendous growth over the years, and his ongoing leadership will continue to serve us well as we expand our capabilities.”
Shafer will transition his Commercial responsibilities to Kleinman at the end of the second quarter and continue to support Huntington in an advisory capacity on a number of strategic initiatives across the Bank. Kleinman has served as Commercial Bank Co-President in partnership with Shafer and will become the segment’s President on July 1.
Huntington and TCF National bank merged in June 2021.