8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): December 12, 2008

SunTrust Banks, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Georgia	001-08918	58-1575035
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
303 Peachtree Street, N.E., Atlanta, Georgia		30308
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: (404) 558-7711

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 12, 2008, SunTrust Banks, Inc. ("SunTrust") announced that, effective immediately, William H. Rogers, Jr., 51, currently Corporate Executive Vice President in charge of SunTrust's wholesale, mortgage, and wealth & investment management businesses, has been named President of SunTrust Banks, Inc. Mr. Wells, 62, previously held that title. In his new role, Mr. Rogers will have responsibility for SunTrust's geographic banking organization; the retail, commercial, mortgage, and wealth & investment management businesses; and corporate marketing. Mark A. Chancy, 44, SunTrust Chief Financial Officer, will in addition to his current duties, assume expanded accountability for the corporate & investment banking business, and also the Company's Chief Administrative Officer organization which continues under the direction of David F. Dierker. William R. Reed, Jr., 62, SunTrust Vice Chairman, currently in charge of SunTrust's geographic banking organization, will assume new responsibilities in connection w ith transition matters related to the new organizational structure. Messrs. Rogers, Chancy and Reed will continue to report to Mr. Wells, along with Thomas E. Freeman, Chief Risk Officer; Raymond D. Fortin, General Counsel; Timothy E. Sullivan, Chief Information Officer; and Mimi Breeden, Human Resources Director.

A copy of the press releases announcing the events described above is attached as Exhibits 99.1 and is incorporated in this report by reference.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SunTrust Banks, Inc.
December 12, 2008	By:	/s/ David A. Wisniewski
		Name: David A. Wisniewski
		Title: Group Vice President and Associate General Counsel

Exhibit Index

Exhibit No.	Description
99.1	News release dated December 12, 2008.

EX-99.1

News Release

Contacts:
Investors Steve Shriner (404) 827-6714	Media Barry Koling (404) 230-5268

For Immediate Release
December 12, 2008

SunTrust CEO Wells Announces “Next Steps in Management Evolution"

Changes Include New President and Expanded Role for CFO
as Part of “Long-Term Focus"

ATLANTA – SunTrust Banks, Inc. (NYSE: STI) Chairman and Chief Executive Officer James M. Wells III announced today a series of steps that he said represent “the latest steps in the ongoing and orderly evolution of our executive management configuration consistent with the Company’s long-term strategic focus.”

Highlights of the moves, which are effective immediately, include: 

William H. Rogers, Jr., 51, currently Corporate Executive Vice President in charge of SunTrust’s wholesale, mortgage, and wealth & investment management businesses, has been named President of SunTrust Banks, Inc. Mr. Wells, 62, previously held that title.  In his new role, Mr. Rogers will have responsibility for SunTrust’s geographic banking organization; the retail, commercial, mortgage, and wealth & investment management businesses; and corporate marketing.

Mark A. Chancy, 44, SunTrust Chief Financial Officer, will in addition to his current duties, assume expanded accountability for the corporate & investment banking business, and also the Company’s Chief Administrative Officer organization which continues under the direction of David F. Dierker.

William R. Reed, Jr., 62, SunTrust Vice Chairman, currently in charge of SunTrust’s geographic banking organization, will assume new responsibilities in connection with transition matters related to the new organizational structure.

Messrs. Rogers, Chancy and Reed will continue to report to Mr. Wells, along with Thomas E. Freeman, Chief Risk Officer; Raymond D. Fortin, General Counsel; Timothy E. Sullivan, Chief Information Officer; and Mimi Breeden, Human Resources Director.

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“Although we clearly are making today’s announcement during a challenging time for our industry and thus for our institution, it is important to note that these changes reflect longer-term considerations, notably the priority we place on good governance and responsible corporate stewardship,” said Mr. Wells. “We believe these organizational adjustments are appropriate to ensure our leadership team remains focused on both near-term performance as well as long-term opportunities for our shareholders, clients, and employees.” 

In connection with the changes indicated above, Mr. Wells also announced that C.T. Hill, currently head of SunTrust’s Mid-Atlantic Banking Group, will assume additional responsibility for the Retail Line of Business, and Thomas G. Kuntz, Florida Banking Group Head, will assume additional responsibility for the Commercial Line of Business. E. Jenner Wood, Central Banking Group Head, will assume additional responsibility for efficiency and productivity initiatives within the geographic banking organization. Messrs. Hill, Kuntz and Wood will report to Mr. Rogers.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation’s largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2008, SunTrust had total assets of $174.8 billion and total deposits of $115.9 billion. The Company operates an extensive branch and ATM network throughout the high- growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, equipment leasing and capital markets services. SunTrust’s Internet address is suntrust.com

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