Regions Financial Corporation (NYSE:RF)’s reaches far in Lone Star state
Regions Bank, a Regions Financial Corporation (NYSE:RF) subsidiary has hired 3 long-time commercial real-estate brokers to foray further into the state of Texas. The Alabama-based bank has hired Buddy Billingsley, Richard Gross, Wendel Pardue from Wells Fargo. They will help the bank in focusing on financing national and regional retail, office, multifamily and industrial developers. RF named Wendel Pardue the commercial real-estate market manager for Texas. He will be overseeing a team based in Dallas. The team will largely work in North Texas, San Antonio and Austin.
The bank has decided on the Texas expansion as the region’s economy has been growing at a steady pace. The three new hires will provide advisory and financing services. Pardue and Gross will operate out of the Dallas offices while Billingsley will watch the Austin front. He will be in charge of development in San Antonio, Austin as well as several surrounding markets.
The new team
The Real Estate Banking Executive for RF, Rusty Campbell said that Wendel, Buddy and Richard are all very tenured and experienced bankers who are very well-acquainted with the real estate market in the state. They have vast experience with working with different clients across numerous economic cycles. He went on to say that Texas has a very robust economic scene and is an important growth-market for the company. They are confident that this expansion will help in supporting steady and diversified growth right across the state via very prudent commercial real-estate lending.
Regions Financial Corporation (NYSE:RF) is essentially a financial-holding company. It has operations right across the Midwest. The other areas that it operates in are the South and Texas. RF provides retail, commercial as well as mortgage banking services. In addition, it provides numerous other financial services in fields such as asset management, investment banking, mutual funds and insurance amongst others. It conducts its banking operations though a commercial bank, named Regions Bank.