Regions Bank announced Tom Speir has been elevated to serve as head of Strategy and Corporate Development. Speir will report to Regions Chief Financial Officer David Turner.
In this role, Speir will lead the bank’s enterprise-wide strategic planning process and corporate development initiatives. He will be responsible for the bank’s mergers and acquisitions (M&A) strategy, identifying opportunities for Regions to further expand its range of specialty capabilities and high-value financial services for clients across the banking sector. In addition, he will oversee the bank’s Small Business Investment Company (SBIC) and strategic equity investment programs.
Speir brings 20 years of experience to his new role. He previously served as Assistant Treasurer and head of Balance Sheet Management for Regions. In this role, he was responsible for the bank’s interest rate, liquidity and capital management strategies. Speir also had oversight of the bank’s securities portfolio, interest rate risk hedging strategies, and development and execution of the company’s capital planning process. As a result, Speir has worked closely with Regions’ business groups to advise on overall strategies, including critical product pricing and capital allocation decisions.
Speir joined Regions in 2009 after spending his early career at Wachovia Bank in Charlotte, NC, where he served as Securitized Products Portfolio Manager in the Treasury Department with a focus on balance sheet management and credit hedging strategies. He began his banking career in Wachovia’s Finance Management Training Program.
“Tom has a deep understanding of the competitive financial services marketplace, and he brings an analytical, customer-focused approach to large-scale initiatives,” said Turner. “He and his team will focus on the products and services that are in greatest demand throughout our footprint, helping us advance our strategic plan and drive long-term, sustainable growth.”
Recent examples of Regions’ successful M&A strategy include the acquisitions of home improvement point-of-sale lender EnerBank, diversified financial services firm Sabal Capital Partners, LLC, and Clearsight Advisors, Inc., which provides M&A advisory services for business clients.
“Regions Bank operates with a forward-looking, innovative mindset, and we have solid opportunities to grow our business by connecting with new clients and adding further capabilities to meet the unique financial needs of consumers and companies alike,” said Speir. “I am looking forward to driving initiatives that reinforce the company’s unique culture, deliver clear business results, and foster even more innovation to further position the bank for our exciting future ahead.”
Speir is committed to giving back to the community by serving on the Advisory Board for Teach for America Alabama. In addition, he serves as co-chair for Regions’ 2022 United Way campaign. He earned his bachelor’s degree in Business Management, with a concentration in Finance, from North Carolina State University.
Speir succeeds Nikki Stephenson, who recently joined Regions’ Corporate Banking Group as head of Credit Products.