ATLANTA – SunTrust Banks, Inc. (NYSE: STI) today announced Kathy Farrell will be appointed as the head of the Commercial Real Estate line of business, effective August 1. Farrell succeeds Walt Mercer, who is retiring after nearly 10 years with the bank and more than 40 years in real estate banking and advisory.
Farrell will be responsible for delivering banking and capital markets solutions to commercial real estate developers and investors in the SunTrust Commercial Real Estate lines of business, including: Regional Real Estate, Real Estate Investment Trusts (REIT), Institutional Real Estate, Affordable Housing, and Residential Builders. Farrell will report to Mark Chancy, SunTrust Wholesale Banking executive.
“As we enter the next phase in growing our commercial real estate business, Kathy’s extensive background will be a significant benefit to our clients, shareholders, and communities. Walt’s expertise in leading this business was instrumental over the last ten years and we wish him well as he retires at the end of 2016,” said Mark Chancy, SunTrust Wholesale Banking executive.
Farrell has over 25 years of real estate finance and banking experience throughout the country, including: origination, underwriting, capital markets, work out strategies, and risk management. She has been with SunTrust since 2013, most recently serving as the executive risk officer for CRE. She has also served as the Real Estate Investment Trust (REIT) senior credit officer, and head of the REIT Banking Group. Prior to joining SunTrust, Farrell was executive vice president and credit executive of commercial real estate for PNC Bank for four years, covering commercial real estate markets from northern Ohio to Texas. She also served as the managing director of debt capital markets at National City Bank for three years, where she established a real estate syndications group. Previously, she was vice president of real estate capital markets at GE Capital Corp and spent the early years of her career at Fleet Bank. Farrell graduated from the College of the Holy Cross with a Bachelor of Arts in Mathematics.