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SunTrust Receivables Capital Management Opens Office In High Point and Expands Presence in New York

PRNewswire
ATLANTA
Dec 4, 2001

SunTrust Banks, Inc. today announced that its Receivables Capital Management unit, formerly known as SunTrust Bank Factoring, has opened a new office in High Point, N.C., and enhanced the management of its New York office.

The High Point office is managed by factoring industry veterans Charles W. Dalton and John J. Nooney. Also joining the High Point team are John G. Davis and David R. Hart who have been named Relationship Managers. All four joined SunTrust from GE Capital Commercial Services Corp., and they have more than 70 years of combined experience in the factoring industry.

Joining the SunTrust Receivables Capital Management office in New York are Allan Shebovsky, Paul J. Kutzman, and Fred Berger who have been named Relationship Managers and New Business Representative, respectively. With more than 80 years of combined industry experience, these executives also joined SunTrust from GE Capital Commercial Services Corp.

"Our new office in High Point and the additions to our management team in New York will allow us to better serve our clients and strengthen our position in the industry," said Tim Woodall, senior vice president and manager of SunTrust Receivables Capital Management. "We are pleased and excited to have these experienced professionals on our team."

Since 1939, SunTrust Receivables Capital Management has provided its business clients with a broad range of financial services including credit protection, receivables management, risk management and financing. The division is headquartered in Atlanta and maintains offices in Charlotte N.C., High Point, N.C., Los Angeles, and New York City.

SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is the nation's ninth-largest commercial banking organization. As of September 30, 2001, SunTrust had total assets of $103.3 billion and total deposits of $63.1 billion. The company operates through an extensive distribution network in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia, and the District of Columbia and also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust, and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance, brokerage and capital markets services. SunTrust's Internet address is http://www.suntrust.com/ .

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SOURCE: SunTrust Banks, Inc.

Contact: Mike McCoy of SunTrust Banks, Inc., +1-404-588-7230