Regions Financial Corp. (NYSE: RF) announced today that John Owen has been named head of Regions’ Consumer Services Group. Owen, a senior executive vice president and member of Regions’ Executive Council, its highest level management committee, was previously responsible for Regions’ Operations and Technology Group, which includes Technology, Bank Operations, Check Processing, Corporate Real Estate, Procurement Services, Management Consulting, E-Business, and Insurance.

Owen will lead Regions’ consumer banking and mortgage lines of business, the company’s largest business segment by revenue, and he will also retain his current responsibility for Insurance, Corporate Real Estate and E-Business. He will report to President and Chief Operating Officer Grayson Hall. Owen succeeds David Rupp, who has been named chief executive officer of Greystone Bank in Raleigh, N.C., and is also returning to North Carolina for family reasons.

“In leading our Operations and Technology Group, John has demonstrated an impressive combination of thoughtful leadership and systematic execution. He will take over leadership of a Consumer Services Group that has excelled this year as our bank has set records for opening new accounts, increased customer deposits and improved customer satisfaction and retention,” said Hall. “David leaves the Consumer Services Group after leading it to one of its best years for productivity and service quality, and we appreciate his contribution and wish him well.”

Prior to joining Regions in 2007, Owen held management positions with New York-based Assurant, a Fortune 500 specialty insurance business, ultimately serving as chief executive officer of Assurant Specialty Property. In that role, he led a 6,000 person workforce and processing operations for more than 29 million loans. His prior experience includes senior vice president of Global Systems Development for Citicorp Credit Services and chief information officer of North American Operations for Arrow Electronics. Owen began his career in the airline industry in 1983 and held positions in information systems with American Airlines and McDonnell-Douglas. He earned his bachelor’s degree in aviation management from the School of Engineering at Auburn University in 1982.

Cindy Rogers, who joined the company in 1978 and currently heads Bank Operations, has been named to lead the Operations and Technology Group and will also report to Hall. As head of Bank Operations, Rogers has been responsible for functions including deposit and loan operations, branch system support, risk operations including BSA/AML monitoring and reporting, and electronic transaction channels. Rogers joined the company as an auditor and has held positions of increasing responsibility in deposit operations and bank operations. She has played key roles in the company’s system integration following the AmSouth merger in 2006 as well as in the systems conversions that followed Regions’ two acquisitions of failed institutions from the FDIC in August 2008 and February 2009. She has been instrumental in ensuring that the bank’s processes and systems support an improved customer experience marked by simplicity, extraordinary high quality, and low error rates.

About Regions Financial Corporation

Regions Financial Corporation, with $140 billion in assets, is a member of the S&P 100 Index and one of the nation’s largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,900 banking offices and 2,300 ATMs. Its investment and securities brokerage trust and asset management division, Morgan Keegan & Company Inc., provides services from over 300 offices. Additional information about Regions and its full line of products and services can be found at www.regions.com.