Regions Financial Corp.’s CFO, David Turner, will retire March 31 after 20 years with the company, the bank said Monday.
Turner will be succeeded at the Birmingham, Alabama-based regional by Anil Chadha, the bank’s controller and head of corporate finance.
“David has been a steady and trusted leader through some of the most pivotal moments in our company’s history,” CEO John Turner said in a prepared statement. “His financial acumen, his integrity and his unwavering commitment to making sound, strategic decisions have left a lasting legacy.”
David Turner joined Regions in 2005 to lead its internal audit division and was elevated to CFO in 2010. His finance career began two decades earlier, with tenures at KPMG and Arthur Andersen, according to his company bio.
Regions credits the outgoing CFO with helping lead the company through tumult in the banking sector, noting that his focus on effective capital allocation and prudent risk management were key to the bank’s health and financial performance, according to the release.
“Regions is well positioned for continued success,” David Turner said in a prepared statement on his retirement. “I’m thrilled to pass the baton to Anil, a strong and capable leader whose deep expertise in finance and risk management – combined with his strategic vision and passion for innovation – will serve Regions well in the years ahead.”
Chadha joined Regions in 2011 after positions at Ally Financial, Wells Fargo and Capital One. In his current role, he’s managed financial reporting, accounting policy and accounting operations, as well as all financial planning activities.
Previously, Chadha managed capital, funding and liquidity as Regions’ assistant treasurer, and led the bank’s shared risk systems and analytics team, which managed credit data reporting and analytics and oversaw the allowance for credit losses and commercial real estate appraisals and evaluations.
Piper Sandler analyst Scott Siefers called Chadha “very well-suited” to the role based on experience. David Turner is highly regarded, Siefers noted, and his shoes “will be hard for anyone to fill.”
Chadha said he’s “humbled and grateful for the opportunity” to succeed David Turner.
“It’s been a privilege to work with and learn from David, from both a professional and a personal standpoint,” Chadha said in the release. “He brings exceptional insights and sound judgment to every discussion, while consistently delivering thoughtful, people-focused solutions.”
Turner and Chadha will continue to do work closely through March, the bank said.
