- Push-out Score suggests push-out forces
- After seven years in the position
- Accolades, praise and good wishes for Gillani
- Allison Dukes taking over
(exechange) — Atlanta, Georgia, February 14, 2018 — Aleem Gillani, finance chief of SunTrust, leaves. It is a change at short notice. As announced by SunTrust Banks, Inc. in a regulatory filing published on Wednesday, February 14, 2018, Aleem Gillani leaves his post as chief financial officer at the bank holding company after seven years in the position, effective March 31, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past 12 months was 6.1 years, according to data compiled by exechange.
Gillani’s duties will be taken over by Allison Dukes, currently head of Commercial Banking of SunTrust Banks, Inc.
Gillani’s move is part of a management shake-up also involving the positions of co-chief operating officers.
“To accelerate the execution of the company’s strategy”
A reason for Gillani’s imminent departure from the CFO post was not explicitly given. SunTrust said: “SunTrust Banks, Inc. … today announced key leadership appointments to accelerate the execution of the company’s strategy.”
Precise information about Gillani’s future plans was not immediately available.
SunTrust said: “Aleem Gillani, chief financial officer, has announced his plans to retire from the company in the second quarter.”
SunTrust further said: “Aleem Gillani, Corporate Executive Vice President and Chief Financial Officer, will retire from his position effective as of March 31, 2018.”
Share price rise since March 2016
The change follows a rise in the share price of SunTrust Banks, Inc. since March 2016.
Chaired by William H. Rogers , Jr.
SunTrust Banks, Inc. is chaired by William H. Rogers , Jr.
William H. Rogers, Jr. (Bill) is chairman and chief executive officer of SunTrust Banks.
Rogers has been the Chief Executive Officer and President of SunTrust Banks, Inc. since June 2011 and December 12, 2008 respectively.
In the position of CFO since 2011
Aleem Gillani is the chief financial officer of SunTrust Banks, Inc.
Named to this role in April 2011, he is responsible for the corporate finance functions, including corporate finance, corporate development, corporate tax, corporate real estate, strategic planning, investor relations and treasury.
Previously, Gillani served as corporate treasurer, managing SunTrust’s interest rate risk profile as well as liquidity, capital management and investment portfolio functions.
Prior to joining SunTrust in 2007, he spent the majority of his career in risk management roles, including the chief market risk officer for two other super regional banks.
Gillani obtained degrees from York University and the Southern Alberta Institute of Technology as well as Certified Management Accountant (CMA) designation from the Society of Management Accountants of Canada.
He is a graduate of the Advanced Management Program from Harvard Business School.
In 2014, Gillani was distinguished by ExecRank as one of the top rated CFOs in the country.
Honored with a Distinguished Community Service Award in Atlanta Business Chronicle’s CFO of the Year Awards and recognized by Institutional Investor as the #2 CFO in the Large Cap Banks Sector in 2017, Gillani is active in both industry and community organizations.
Gillani serves on the National Board of Trustees for the March of Dimes Foundation.
He was the founding chair of the Market Risk Council for RMA, the Risk Management Association and served for many years as a director on the RMA board. He is also a member of the board of directors of SunTrust Robinson Humphrey, Inc., the Atlanta Area Council for the Boy Scouts of America and Zoo Atlanta.
Previously, Gillani served as the dean for SunTrust’s “Insights” leadership development program and chair of the Parent Board at the Georgia Institute of Technology.
Gillani will remain employed by SunTrust into the second quarter of 2018 to support the transition of his responsibilities to L. Allison Dukes.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Aleem Gillani’s imminent move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 8.2018 ($).