The Board of Directors ofSunTrust Banks, Inc. announced today thatWilliam H. Rogers, Jr.-- the Company's President and Chief Executive Officer sinceJune 2011-- will assume the additional role and title of Chairman of the Board onJanuary 1, 2012. Mr. Rogers' assumption of this additional role coincides with the previously announced decision of Executive ChairmanJames M. Wells IIIto retire effectiveDecember 31, 2011, following a 43-year-career with the Company.

Mr. Rogers, 53, will assume overall executive management responsibility for SunTrust's strategy, business operations and financial performance, and oversee the business of, and matters coming before, the Board of Directors.

"Today's announcement concludes a long-planned succession process that began with our smooth transition of CEO responsibilities toBill Rogersin June 2011," noted Mr. Wells. "Bill is a seasoned and highly effective leader, with a deep understanding of our Company and the industry. I can attest that he lives the values and mission of SunTrust in every interaction."

Mr. Wells, 65, who served as SunTrust's Chairman and Chief Executive Officer for three years prior to assuming the Executive Chairman position in June of this year, said he also will retire from the SunTrust Board of Directors onDecember 31, 2011.

"The past several years in banking, and in the industry and economy overall, have presented some of the most challenging financial operating conditions in our nation's history," said Mr. Rogers. "Despite those realities, our Company has not only persevered, but grown – and honored our commitment to our clients, shareholders, communities and teammates. Those achievements are tangible demonstrations ofJim Wells' leadership skills and personal character, and have contributed immeasurably to the strengthened financial performance we see today."