Morehouse Alumni News: RBC Bank Names Wachovia Executive Reginald Davis President
(ATLANTA - October 6, 2009) - Royal Bank of Canada (RBC) has hired veteran Wachovia executive Reginald Davis as its president, the Raleigh-based lender announced.
Davis joined Wachovia, now part of Wells Fargo & Co. (NYSE: WFC), after graduating from Atlanta ’s Morehouse College in 1985. He rose through the executive ranks to the position of executive vice president and Eastern Banking Group executive. In that role, he led retail and wholesale activities in 20 East Coast states to increase revenue and cross-selling of products.
As president of RBC Bank, Davis will oversee five divisions: Retail Banking, Commercial Markets, Specialized Businesses, Private Banking and Residential Mortgages. He also will be responsible for “achieving and exceeding” the bank’s client satisfaction and revenue goals, RBC said in a news release.
"Reggie's experience and market familiarity make him an excellent leader for our client-facing employees in executing our strategy to provide the best possible service to our clients," said Scott Custer, RBC Bank’s CEO. "We are very pleased he is joining our team, and I look forward to working closely with him."
Davis fills a position that had been vacant and steps into a role Custer promised to create as his bank tries to deal with a glut of bad loans that have pushed the company's bottom line into the red in recent quarters. Davis is a 2005 recipient of the coveted Bennie Leadership Award named in honor of Morehouse's 6th president, Dr. Benamin Elijah Mays. He is also the son of the late Silas W. Davis '50.
Davis will be based at RBC Bank's headquarters in Raleigh . RBC Bank is the U.S. banking arm of the Royal Bank of Canada (NYSE: RY). Please join President Franklin and the entire Morehouse community in congratulating Reggie on this significant achievement.
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