Hall described the “Regions 360” process in which the company seeks to meet all of a customer’s financial needs, placing them ahead of the company’s needs. He labeled this approach, “making a decent profit in a decent way.”
CEO Hall noted that the regulatory environment for banks, which was never benign, has become increasingly complex and demanding in recent years. He said that just from one new law, the Dodd Frank Wall Street Reform and Consumer Protection Act which was passed in 2010, Regions and other banks receive hundreds of new pages of regulations every week. He said that he has told his employees that they must accept this new paradigm and keep focused on meeting customer needs. He said that of the company’s approximately 23,000 employees, over 1,000 are now in audit, compliance or other risk management functions.
Regions Financial Corporation has its origins in Alabama over 40 years ago when it first became legal for banks to expand state-wide. Today, Regions Financial Corporation operates in 16 states and has approximately $120 billion in total assets. The company is the 10th-largest bank based in the United States.
A group of students who had researched Regions Financial’s strategy made a presentation to Mr. Hall. Among other recommendations, the students encouraged Mr. Hall to consider further expansion in the state of Texas.
Mr. Hall gave away to two lucky students “Regions green” bicycles, complete with matching helmets. Accompanying Mr. Hall were strategic planning head Keith Herron; Dana Nolan from Investor Relations; and Boyd Stripling.
“Strategic Leadership Through the Eyes of the C-Suite” is taught by School of Business professor Stephen Yoder, and features visits from members of the executive suites of public or other large complex organizations who discuss their organizations’ strategies and how they are developed and implemented.