Huntington Bancshares has had a few CEOs, with Stephen D. Steinour being the current one. He has been leading the company since 2007.
Under Steinour's leadership, Huntington Bancshares has made significant strides in its growth and development.
One notable achievement is the company's expansion into new markets, such as Illinois and Michigan.
Steinour has also focused on improving customer service and increasing digital capabilities.
The company has seen a significant increase in its online banking services and mobile app usage under Steinour's leadership.
Executive Team
The executive team at Huntington Bancshares Inc is led by Chairman Stephen Steinour, who has been in his position for 16 years. He is responsible for overseeing the company's overall strategy and direction.
Stephen Steinour's compensation package is substantial, with a total value of US$10.18 million. This includes his salary, bonuses, and other benefits.
The company's CFO and Senior EVP, Zachary Wasserman, has been in his role for 5.2 years and earns a total compensation of US$3.94 million. He is responsible for managing the company's finances and making key financial decisions.
Here's a breakdown of the executive team's tenure and compensation:
Note that the compensation figures are based on publicly disclosed data and may not reflect the executives' actual take-home pay.
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Huntington Bancshares CEO Steve Steinour has a clear vision for the bank's future. He aims to consolidate three business units into one, which will help rein in expenses and increase revenue.
This reorganization will involve combining the bank's retail and business banking unit with its vehicle finance arm and wealth management, private banking, and insurance segment. The new structure will have two units: consumer and regional banking and commercial banking.
The new consumer and regional banking segment will be a fully integrated organization, inclusive of all consumer business banking products and services across the bank. This will allow for greater coordination and better service to customers.
Huntington's focus is on its "most critical priorities", Steinour said. The bank is committed to being local and bringing decision-making and customer service closer to customers and their communities.
The reorganization will also help the bank derive more revenue from its wealth management division, a unit Steinour identified as a "big growth area." The bank is under-penetrated in this area, and Steinour believes the new alignment will help maximize opportunities.
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The bank aims to trim expenses related to personnel and its branch network. To achieve this, Huntington has launched a voluntary retirement program for middle- and senior-level employees.
Here are some key statistics related to the bank's branch consolidation efforts:
- 30 branches were consolidated over the last quarter, representing 3% of the bank's total network.
- The bank has about 1,000 points of presence in its retail branch distribution network.
- The bank plans to open over 20 retail branches in the Denver area over the next several years.
Frequently Asked Questions
How much does Steve Steinour make a year?
Steve Steinour's total yearly compensation is $10.18 million, consisting of a salary and bonuses, including company stock and options.
Is Steve Steinour married?
Yes, Steve Steinour is married. He resides in Columbus with his wife and children.
How much is the CEO of Huntington Bank worth?
The CEO of Huntington Bank, Stephen D Steinour, has an estimated net worth of at least $117 million. His wealth is largely attributed to his ownership of over 6.9 million shares of Huntington Bancshares Inc stock.
Sources
- https://www.fundinguniverse.com/company-histories/huntington-bancshares-inc-history/
- https://www.globaldata.com/company-profile/huntington-bancshares-inc/executives/
- https://www1.salary.com/Stephen-D-Steinour-Salary-Bonus-Stock-Options-for-HUNTINGTON-BANCSHARES.html
- https://www.bankingdive.com/news/huntington-bank-ceo-steve-steinour-reorganization-plan/643055/
- https://simplywall.st/stocks/mx/banks/bmv-hban/huntington-bancshares/management
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