Synovus Financial Corp. has hired an executive from its competitor SunTrust Bank to oversee its private wealth management business at Columbus Bank and Trust.
Columbus-based Synovus said Monday that Gene Perkins is now senior director of private wealth at the city’s largest bank. Aside from running the department in Columbus, he is expected to help the bank develop strategies and “serve as a resource” in the private wealth businesses at Synovus offices in south Georgia and the Florida Panhandle, the company said.
Perkins replaces Heath Schondelmayer within CB&T’s private wealth operation. Schondelmayer on Jan. 1 succeeded Billy Blanchard as president of Columbus Bank and Trust, with Blanchard departing to join the Columbus private equity firm, Jordan-Blanchard Capital, in which his father is now involved. Jim Blanchard is a retired chairman and chief executive officer of Synovus.
Before arriving at CB&T, Perkins was market president of SunTrust’s west Georgia region and managing director of private wealth at the bank. He had been with SunTrust since 2006. He started his career as an assistant branch manager in 1994 at Union Federal Savings Bank.
“Gene is a tremendous banker with vast knowledge of Private Wealth management in the Columbus market,” D Copeland, Synovus chief community banking officer, said in a statement. “We are thrilled to have him serving our Private Wealth clients and prospects in the Columbus market and look forward to his leadership as we broaden our Private Wealth outreach in select areas of our Southeastern footprint.”
Perkins is a graduate of Mercer University. Locally, he serves on the boards of directors with the Boys & Girls Club of the Chattahoochee Valley, the Greater Columbus Georgia Chamber of Commerce, and the RiverCenter for the Performing Arts.
Synovus operates 28 divisions in Georgia, Alabama, South Carolina, Florida and Tennessee, with 248 bank branches and 327 automated teller machines.
Columbus Bank and Trust (aka Synovus Bank) is the No. 1 bank in the Columbus metro area, with its $4.2 billion in deposits giving it more than 64 percent of market share as of June 2016, according to the Federal Deposit Insurance Corp. It is followed by Wells Fargo with nearly 13 percent, SunTrust with just over 10 percent. It drops off from there, with Regions and Branch Banking and Trust both with just over 2 percent of market share.
In Georgia as a while, the banking market share landscape is flipped somewhat, with SunTrust having nearly 22 percent of total share statewide, trailed by Wells Fargo with 15.6 percent, Bank of America with 14.6 percent and Synovus with just over 6 percent.