Financial-services industry faces a transitional moment

05/11/2011 | Bank Investment Consultant

James Wells recently announced that he would step down as chief executive officer at SunTrust Banks and be succeeded by William Rogers Jr., the bank's chief operating officer. Mr. Wells said it was the right time to make the move because, along with nearing his 65th birthday, it is "a meaningful inflection point" in the financial-services industry. Banks are striving to position for the future now that the global financial crisis is behind them.

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