Longtime Regional Acceptance Corp. Chief Executive Bill Jones take the reins as head of Truist Bank’s auto division, to be called Truist Dealer Retail Services, a company spokesman told Auto Finance News.
Jones, who has served as chief executive of BB&T’s subprime unit Regional Acceptance for nearly 20 years, will continue his role in addition to overseeing Truist’s auto finance division.
Additionally, Fred Reherman will resume his role as chief operating officer of Regional Acceptance — a position he has held since 1994. Chuck Jones, as the chief operating officer, will oversee the combined prime auto business for Truist, reporting to Bill Jones. The prime auto finance business consolidates SunTrust Bank’s legacy auto business and BB&T’s prime portfolio.
The auto divisions of SunTrust and BB&T Dealer Financial Services will continue to operate in the marketplace separately for the next two years until integration is complete, said Truist’s Director of Communications Kyle Tarrance.
Scott Greene, a 21-year executive at BB&T, will join the Truist Dealer Retail Services leadership team at the helm of the marine and RV lending business called Truist Marine & RV.
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