Regions Bank has appointed Alan McKnight as the new chief investment officer of Regions Wealth Management, and John Parker as the new head of Regions Institutional Services.
Both will report to Bill Ritter, head of Regions Wealth Management.
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In his capacity as chief investment officer for Regions Wealth Management, McKnight is responsible for developing consistent and comprehensive asset management strategies to meet the needs of individuals, families and institutional clients.
Ritter commented, "I’m thrilled that Alan is joining Regions Wealth Management as Chief Investment Officer. His proven track record in asset management and experience providing investment management services to high-net-worth individuals, families and institutional clients make him an outstanding addition to our team. Alan will work closely with our Private Wealth and Institutional Services groups as we refine our asset management approach and present Regions’ best solutions to our clients."
Parker brings more than 28 years of experience in the personal and institutional trust businesses at Regions to his new role.
Regions Institutional Services provides investment, administrative and trustee solutions to corporate, non-profit, governmental and Taft-Hartley clients. Regions is the fourth-largest municipal trustee bank in the U.S. and the largest bank provider of funeral and cemetery trust services nationally.
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By GlobalDataRitter added, "I’ve had the pleasure of working with John for many years, and his expertise in the institutional investment business will serve our clients well. Regions’ legacy and capabilities in the corporate, institutional, and funeral trust businesses are among the strongest in our industry. Under John’s leadership, we will focus on deepening relationships with existing Regions clients and expanding our reach to meet the financial planning needs of more companies and non-profit organizations in the communities we serve."
Regions Institutional Services and asset management functions were previously led by Ken Alderman, who retired from Regions in February after a successful 33-year career with the firm.
Alderman joined Regions in 1981 as a portfolio manager for trust investments. During his tenure at Regions, Alderman also served as director of the Capital Management Group and head of Trust and Asset Management.
Ritter continued, "Since introducing the Regions Wealth Management brand to our clients, we have continued to build upon our 100-year history of providing personal and institutional trust services — businesses that Ken was instrumental in building and leading for our company.We appreciate Ken’s many contributions over the years, and we wish him all the best."
Regions Wealth Management, with $81 billion in assets under administration, provides banking, investment, trust, and insurance services to individual and institutional clients through four businesses: Regions Private Wealth Management, Regions Institutional Services, Regions Investment Services, and Regions Insurance Group.
Regions created the Regions Wealth Management Group in June 2011, integrating its existing Trust, Private Banking, Asset Management and Insurance units within a single group.
McKnight joins Regions Wealth Management from SunTrust Bank where he was managing director and head of institutional investments.
He began his career as a sell-side analyst with Wachovia Securities covering the specialty retailing sector and later served as large-cap growth portfolio manager at Morgan Stanley.
Throughout his career, McKnight has taken on increasing responsibilities, including being named chief investment officer of SunTrust Institutional Investment Advisors.
He also served as a partner and director of global investment strategy at Balentine, managing asset allocation strategies and supervising the firm’s manager due diligence and selection efforts.
Parker began his banking career with Regions in 1987 as a trust officer and later was named regional manager for trust, private banking and brokerage.
In 1998, he was named trust group director, followed by wealth management area manager for trust, asset management, private banking and brokerage. He also served as regional executive for private wealth management.
