RBC Centura CEO Scott Custer Named Chairman of Bank's Board of Directors
RALEIGH, NC, December 5, 2006 - RBC Centura Bank today announced the appointment of CEO Scott Custer as chairman of the RBC Centura Board of Directors. Custer takes over from Cecil Sewell, the bank’s former CEO, who has retired as chairman and director.
“I am happy to announce that Scott will be my replacement in this key role for RBC Centura,” said Sewell. “The move reflects the ongoing evolution of responsibility and accountability in the U.S. from our parent company, RBC, and I am certain that Scott will continue to excel as a leader on the RBC Centura Board of Directors.”
As Chairman, Custer will lead the RBC Centura Board of Directors in setting the bank's business strategy as it grows its presence in the Southeast. In addition, as president and CEO, he continues to be responsible for implementing RBC Centura’s overall strategy for growth to deliver stronger returns. He is also responsible for overall operations including RBC Centura’s retail branch network, Commercial Markets and Investment Sales groups, as well as for the RBC Builder Finance business. Custer was appointed CEO in October 2004, but has served RBC Centura and its predecessor, Peoples Bancorporation, for nearly 20 years.
Custer recently led the bank in the acquisition of Flag Financial Corporation and its bank subsidiary, Flag Bank, which is expected to close Dec. 8, 2006, and also played a key role in the strategic expansion of the bank’s footprint into Alabama with the purchase of 39 banking centers in the state owned by AmSouth.
“I eagerly accept this new challenge and look forward to working closely with the Board as we chart RBC Centura’s future course,” said Custer. Custer holds a bachelor’s degree in business from the College of William and Mary in Williamsburg, Va. He is active in the local community and sits on the board of directors of the Research Triangle Foundation, the North Carolina Citizens for Business & Industry (NCCBI) and the Research Triangle Partnership. Custer is also a member of the board of visitors for the University of North Carolina at Chapel Hill and the North Carolina Banker’s Association’s Executive Committee and Board of Directors.
About RBC Centura Bank
RBC Centura, headquartered in Raleigh, N.C., offers a wide range of financial services and advice, including a complete line of banking and mortgage services to individuals, businesses and public institutions throughout the Southeast. RBC Centura's multi-faceted customer access network includes nearly 280 full-service banking centers, an extensive ATM network, and telephone and Internet banking. In addition, RBC Centura offers builder finance products through its RBC Builder Finance division. According to S&L Financial, RBC Centura is the 58th largest U.S. bank based on assets as of June 2006. RBC Centura Banks Inc. is a wholly-owned subsidiary of Royal Bank of Canada (RBC) (NYSE, TSX: RY), Canada’s largest bank as measured by assets and market capitalization and one of North America’s leading diversified financial services companies.