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Timothy E. Sullivan Named SunTrust Chief Information Officer

12/27/2002
ATLANTA -- SunTrust Banks, Inc. (NYSE: STI) said today that Timothy E. Sullivan has joined the Company as Executive Vice President and Chief Information Officer. In that role, Mr. Sullivan, 52, will assume executive management responsibility for SunTrust's Enterprise Information Services (EIS) division, the 4,500-employee organizational unit that provides the Company's overall technology, operations and information-related support.

"Tim's demonstrated experience, knowledge, judgment and vision combine to make him uniquely qualified to join our senior management team in this key role," said SunTrust Vice Chairman Theodore J. Hoepner. "His leadership will be instrumental in ensuring we continue to benefit from a results-oriented technology and information infrastructure fully supportive of SunTrust's business lines as they implement specific growth plans linked to our corporate performance goals." Mr. Hoepner noted that Mr. Sullivan's selection represents the culmination of an extensive search process that began in June 2002 upon the retirement of SunTrust's previous chief information officer, Robert Whitehead.

Mr. Sullivan, who will report directly to Mr. Hoepner, has also been named to SunTrust's Management Committee, the Company's senior internal forum for business coordination.

Mr. Sullivan has 24 years of technology and financial services industry experience, most recently serving as executive vice president and group technology executive at Wells Fargo Corporation in San Francisco. Prior to joining Wells Fargo, he was chief information officer at Kaiser Foundation Health Plan and he also held a series of increasingly responsible technology and operations management positions, including chief information officer, at First Interstate Bank in Arizona.

Mr. Sullivan earned a bachelor's degree in Economics from the University of Illinois in Urbana, and an MBA from the University of California at Berkeley.

SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking organizations. As of September 30, 2002, SunTrust had total assets of $112.4 billion and total deposits of $73.8 billion. The company operates through an extensive distribution network primarily in 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 www.suntrust.com.

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