Regions Financial Corp. on Wednesday announced Allen Mayer will be elevated to serve as Treasurer, succeeding Deron Smithy, who will retire at the end of 2026 following 18 years of distinguished leadership in the company. In addition, Craig Harrison is joining Regions as head of Corporate Finance, further strengthening the Finance Division’s leadership team.

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Deron Smithy (pictured top/left) will retire as Treasurer of Regions following 18 years of leadership. Smithy will be succeeded by Regions Assistant Treasurer Allen Mayer (pictured bottom/center), who, for years, has served an instrumental role in the development of Regions’ balance sheet and hedging strategies.

Deron Smithy (pictured top/left) will retire as Treasurer of Regions following 18 years of leadership. Smithy will be succeeded by Regions Assistant Treasurer Allen Mayer (pictured bottom/center), who, for years, has served an instrumental role in the development of Regions’ balance sheet and hedging strategies.

“Disciplined financial management is essential to delivering consistent performance and creating long-term value for our customers, communities and shareholders,” said John Turner, Chairman, President and CEO of Regions Financial Corp. “Deron’s strategic insights have made significant contributions to Regions, helping strengthen the company through changing economic environments while building an outstanding Treasury organization. Allen’s promotion and Craig’s addition to the Finance leadership team reflect both the depth of talent within Regions and our ability to attract highly experienced leaders who will help drive our continued success.”

A Closer Look: Allen Mayer’s Experience

Mayer will become Treasurer effective Sept. 28. Smithy will serve in an advisory capacity during the transition until the end of the year.

Mayer has spent 17 years in Regions’ Treasury organization, most recently as Assistant Treasurer and previously as Head of Balance Sheet Management. Throughout his tenure, he has held positions of increasing responsibility across asset and liability management, interest-rate risk management, and balance-sheet strategy.

Under Smithy’s leadership, Mayer has served an instrumental role in the development of Regions’ balance sheet and hedging strategies, working closely with executive leadership to ensure strong governance and thoughtful execution of the bank’s strategic priorities.

“Allen’s deep understanding of our balance sheet, funding strategy and risk framework, combined with his proven leadership, make him exceptionally well prepared for this role,” said Anil Chadha, Chief Financial Officer for Regions. “Having worked alongside Deron for many years, Allen has been instrumental in developing strategies that support our financial strength today. It’s because of that strength that Regions Bank is poised to build sustainably on its long-term growth.”

Deron Smithy’s Legacy at Regions

Smithy joined Regions in 2008 and has led the Treasury Group through multiple economic cycles, periods of market volatility and one of the most dynamic interest-rate environments the banking industry has experienced in decades. His contributions include advancing Regions’ hedging capabilities, strengthening balance-sheet flexibility and helping shape a highly respected Treasury organization. He has also been a trusted voice with investors and analysts, helping communicate the company’s financial strategy and balance-sheet positioning.

“It has been a privilege to work alongside so many talented associates during my time at Regions,” Smithy said. “I’m proud of what our Treasury team has accomplished together, and I’m confident the organization is well positioned for continued success. Allen is an outstanding leader, and I look forward to supporting a smooth transition.”

Craig Harrison Joins Regions as Head of Corporate Finance

Regions also announced Craig Harrison will join the company Sept. 28 as head of Corporate Finance, reporting to Chadha. The position was recently reestablished as a dedicated leadership role. Harrison will lead the bank’s financial planning, finance strategic analytics and finance systems functions. He will also oversee the top finance leaders who are dedicated to supporting individual business groups across the bank.

Harrison brings more than 20 years of finance leadership to his new position. Most recently, he served as chief financial officer for the Commercial Bank at Citizens Financial Group, where he was responsible for financial performance, reporting, controls and strategy. He previously held leadership positions with MUFG Americas/Union Bank, American International Group, JPMorgan Chase and Citibank.

“Craig brings a diversity of experience, a strategic perspective, and a demonstrated ability to partner with business leaders to drive performance,” Chadha said. “As we continue advancing our finance capabilities and supporting the growth of the company, Craig’s leadership and experience will be valuable additions to our team.”

Finance Leadership Transition at Regions: Key Facts

Who will serve as Treasurer for Regions?

Allen Mayer will become Treasurer effective Sept. 28, 2026. Mayer has spent 17 years in Regions’ Treasury organization, most recently serving as Assistant Treasurer. Mayer will succeed Deron Smithy, who plans to retire at the end of 2026 after 18 years with Regions.

Who is Craig Harrison?

Craig Harrison is joining Regions as head of Corporate Finance after serving as chief financial officer for the Commercial Bank at Citizens Financial Group. Harrison has also held leadership roles at MUFG Americas/Union Bank, American International Group, JPMorgan Chase and Citibank.

What does the head of Corporate Finance oversee?

The head of Corporate Finance leads financial planning and finance systems functions while also overseeing the company’s business and support group chief financial officers.

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $161 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,200 banking offices and more than 1,750 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

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