Synovus Financial Corp. announced the hiring of Michael Colasso as the new Enterprise and Operational Risk Executive Director. Colasso reports to Executive Vice President and Chief Risk Officer Shellie Creson and is based in Atlanta, GA. He is responsible for the strategic design and execution of Synovus’ enterprise and operational risk programs and oversight, including frameworks and methodologies to support effective risk identification, assessment, mitigation and monitoring.
“Michael’s impressive track record and depth of experience in risk management will ensure Synovus continues to advance its operational risk discipline and supporting policies and practices,” said Creson. “He will provide valuable thought leadership to ensure our risk management practices continue to evolve as our organization grows.”
Colasso has more than 15 years of financial risk management experience. He joins Synovus from Truist, where he most recently served as head of enterprise risk management programs and framework since 2019. Colasso began his career in fraud and forensics at KPMG and served as a senior examiner at the Federal Reserve Bank of Atlanta for banks with more than $100 billion in assets.
Colasso is a graduate of Emory University. He holds a certified public accountant license and certified fraud examiner designation.
Blair to Succeed Stelling as Synovus Board Chair
Synovus separately announced the appointment of President and Chief Executive Officer Kevin Blair to Chairman of the board, effective Jan. 1, 2023. Blair succeeds Kessel D. Stelling, who is retiring as Chairman on Dec. 31, 2022, and will continue in an advisory role with the company until Jan. 1, 2025, as previously announced.
Blair has served as President and CEO of Synovus since April 2021. He joined Synovus in 2016 as Executive Vice President and Chief Financial Officer. Blair was appointed Senior Executive Vice President, Chief Operating Officer in 2018.
“I’m honored to expand my executive responsibilities to include Board Chair, succeeding a highly respected leader whose legacy is marked by strength, resiliency and a commitment to the continued success of our company and investment in our people,” said Blair. “Kessel has also been instrumental in building a talented, diverse and cohesive board that is deeply committed to strong governance practices. I look forward to the continued work with our directors and executive team to effectively execute our key strategic growth initiatives.”
Stelling was named Synovus President and Chief Operating Officer in February 2010 and President and Chief Executive Officer in October 2010. He has served as Chairman of the board since Jan. 1, 2012.
“I have been honored these past 12 years to work alongside an incredible Synovus team and a supportive, engaged board of directors,” said Stelling. “The future of this company remains very bright under the continued capable and visionary leadership of Kevin Blair and the dedicated team caring for our clients and communities every single day.”