Transition of responsibilities and reporting relationships will begin immediately and formally conclude on June 1, 2011.
Wells, who was named CEO in 2007 and chairman of the board in 2009, will serve through his planned retirement on December 31, 2011, and provide strategic oversight and counsel on company and regulatory matters to the board and Rogers.
Rogers, who was named president in 2008 and assumed the duties of chief operating officer in 2010, adds oversight of the company’s day-to-day operations and the finance, legal, risk management and human resources functions in his new role.
SunTrust Banks lead director Douglas Ivester said under Jim’s leadership, SunTrust has emerged from the extraordinary economic challenges of the past several years as a stronger and more capable company.
"Bill Rogers has partnered with him in the introduction of a variety of new products, service improvement initiatives and growth strategies, and brings similarly robust banking experience, company knowledge and industry expertise to his new role," Ivester said.
