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Section 1: 8-K (8-K)

Document


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

December 12, 2018
Date of Report
(Date of earliest event reported)

Synovus Financial Corp.
(Exact Name of Registrant as Specified in its Charter)

Georgia
(State of incorporation)
1-10312
(Commission File Number)
58-1134883
(IRS Employer Identification No.)

1111 Bay Avenue, Suite 500, Columbus, Georgia 31901
(Address of principal executive offices) (Zip Code)

(706) 649-2311
(Registrant’s telephone number, including area code)

________________________________________________
(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:

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o





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

On December 12, 2018, the Board of Directors of Synovus Financial Corp. (the “Company”) appointed Kevin S. Blair as the Company’s Chief Operating Officer, effective immediately. As Chief Operating Officer, Mr. Blair will lead the Company’s three front-line business units (community banking, wholesale banking and financial management services) as well as the Company’s technology and operations team and the product and treasury management team. Mr. Blair will continue to serve as Chief Financial Officer on an interim basis until his successor is named.

Mr. Blair, age 47, joined the Company in August 2016 as Chief Financial Officer after more than 20 years in the commercial banking industry, most recently serving as Corporate Treasurer of SunTrust Banks, Inc., a financial services organization headquartered in Atlanta, Georgia. Mr. Blair holds a bachelor’s degree in Management and Economics from James Madison University and a MBA from George Washington University with a concentration in Financial Management.

The Company issued a press release on December 12, 2018, announcing Mr. Blair’s appointment as Chief Operating Officer, among other things. A copy of that press release is filed as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01
Financial Statements and Exhibits.
Exhibit No.
Description
 
 
99.1
 
 
 
 
 
 






SIGNATURES

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

 
SYNOVUS FINANCIAL CORP.
 
 
Date: December 12, 2018
By: /s/ Allan E. Kamensky
 
Name: Allan E. Kamensky
 
Title: Executive Vice President, General Counsel
 
          and Secretary
 
 
 
 
 
 
 
 




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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit


Exhibit 99.1

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PRESS RELEASE
For Immediate Release
Contact: Lee Underwood
External Communications
(706) 644-0528
Kevin Blair named Chief Operating Officer of Synovus

COLUMBUS, GA., DEC. 12, 2018 - Synovus Financial Corp (NYSE: SNV) today announced the appointment of Kevin Blair as senior executive vice president and chief operating officer (COO), effective immediately. Blair previously served as Synovus’ chief financial officer and will remain in this position on an interim basis until a successor is named.

As COO, Blair will lead Synovus’ three front-line business units - community banking, wholesale banking, and financial management services - as well as the company’s technology and operations team and the product and treasury management team. Blair will continue to report to Synovus Chairman and CEO Kessel Stelling.

“As we prepare to expand our operating footprint with the addition of Florida Community Bank, this updated operating structure will improve execution across the company by aligning our revenue-generating businesses and technology and operations under a single point of leadership,” said Kessel D. Stelling, chairman and CEO of Synovus. “With demonstrated leadership since joining Synovus in 2016, and a career history that ranges from front-line banker to CFO, Kevin is very well-prepared to step into this important role for our company.”

Blair joined Synovus as CFO in August 2016 after more than 20 years in the commercial banking industry, most recently as corporate treasurer for SunTrust. He earned a bachelor's degree in Management and Economics from James Madison University and an MBA from George Washington University.

Under the new operating structure, these executives and business lines will report to Blair:

Wayne Akins, chief community banking officer, who will lead retail and small business banking, commercial banking, commercial deposit and payment sales, deposit and credit card products, banking and card risk management, private wealth management, and consumer lending teams. Akins was previously chief retail banking officer.






Kevin Howard, chief wholesale banking officer, who will lead a newly-formed wholesale banking team combining corporate banking, middle market banking, commercial real estate lending, asset-based lending, and Synovus’ insurance premium finance business, Global One. Howard previously served as chief credit officer and will continue to hold the position on an interim basis until a successor is named. Curtis Perry will continue to lead corporate banking specialty lines while also serving as chief operating officer over wholesale banking, including industry vertical and product development, credit management and analysis, and quality control.

Bart Singleton, who will remain president of Synovus Financial Management Services (FMS). FMS includes mortgage banking, brokerage and insurance, investment and financial management, family office, trust, and capital markets products and services.

Zack Bishop, Technology and Operations Officer, who joined Synovus last month. Bishop’s responsibilities include technology, innovation, operations, security, and other corporate functions.

As recently announced, Synovus received regulatory approval for the acquisition of FCB Financial Holdings, Inc., which is expected to close on or about January 1, 2019, subject to the satisfaction of customary closing conditions. Following the transaction close, Florida Community Bank, National Association will merge with Synovus Bank and operate under the Synovus brand, and FCB President and CEO Kent Ellert will be executive vice president of Synovus and Florida region president, reporting to Stelling.  


Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $32 billion in assets. Synovus provides commercial and retail banking, investment, and mortgage services through 249 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus Bank, a wholly owned subsidiary of Synovus, was named one of American Banker’s “Best Banks to Work For” in 2018 and has been recognized as one of the country’s 10 “Most Reputable Banks” by American Banker and the Reputation Institute for four consecutive years. Synovus is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram.




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