Regions Financial has appointed John Asbury as head of its business services group to lead all lines of business that serve business and commercial customers.

Mr Asbury, an executive vice president, joined Regions in March 2008 as head of business banking for Regions, which serves small business customers with annual sales of up to $10m. He has also managed the bank’s centralized credit underwriting, documentation and administration for this line of business.

Mr Asbury will report to president and CEO Grayson Hall and will serve on the company’s operating committee. He succeeds Tim Laney, who has accepted the position of CEO of NBH Holdings, which was created in 2009 to build a leading community banking franchise.

Mr Asbury has 23 years of experience in the financial services industry. He joined Regions following a 17-year career at Bank of America, most recently as Pacific Northwest region executive and senior vice president of business banking.

Other positions Mr Asbury held at Bank of America included quality and productivity executive for global corporate investment banking, sales performance executive for the east region of commercial banking, national marketing executive, southeast regional executive for Business Capital, and chief administrative officer for the Commercial Finance division. Prior to joining Bank of America in 1990, he was with Wachovia.

Mr Hall said: “We are fortunate to have someone of John’s caliber to maintain the momentum established within the business services group. As a senior leader, he has played a significant role in driving record deposit growth and improved customer satisfaction and retention.

“Tim helped transform the business services group into an organization focused on relationships and customer solutions, and we were the only bank among our peers to increase market share with commercial and small business customers during this challenging period. We appreciate his contributions and wish him well.”