ATLANTA, March 22, 2011 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE : STI ) announced today that Jerome T. Lienhard has been named President and Chief Executive Officer of SunTrust Mortgage, Inc. In this role he has responsibility for SunTrust's mortgage production, servicing, operations, secondary marketing and technology areas. He will report to SunTrust Banks, Inc., Consumer Banking Executive C.T. Hill.
Mr. Lienhard succeeds Sterling Edmunds Jr., who assumes a new and key role in the mortgage company as Executive Vice President, National Sales and Production Manager. He will be responsible for all SunTrust Mortgage production channels, including Retail, Correspondent, Wholesale, Consumer Direct and Consumer Banking Cross Sell.
The appointments are effective immediately.
"Jerome is an experienced and dynamic leader uniquely suited to lead this important SunTrust line of business at an extraordinary time in our industry and economy," said Mr. Hill. "At the same time we will continue to benefit from Sterling's strong sales and service skills as the mortgage industry evolves."
Mr. Lienhard joined SunTrust Banks, Inc. as Treasurer in 2006, and most recently served as Executive Vice President of Strategic Finance and Administration with responsibility for Strategic Sourcing, Corporate Real Estate, Strategic Finance and Performance Measurement. Prior to joining SunTrust, Mr. Lienhard served as Senior Vice President and Treasurer of the Federal Home Loan Mortgage Corporation (Freddie Mac) and as Corporate Treasury Manager at Toyota Motor Credit Corporation.
Mr. Edmunds joined a SunTrust Mortgage predecessor in 1987 as Builder Programs Manager. He subsequently developed the company's broker and correspondent divisions and oversaw the expansion of the retail mortgage branch network throughout the Company's footprint. He began his career as Finance Manager of the Virginia Housing Development Authority in 1982.
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 December 31, 2010, SunTrust had total assets of $172.9 billion and total deposits of $123.0 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 clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com.
SOURCE SunTrust Banks, Inc.