Regions Financial’s longtime CFO announces his retirement

• What’s at stake: David Turner, who helped Regions Financial Corp. recover in the aftermath of the financial crisis, plans to retire after 15 years as CFO. 
• Supporting data: After struggling early in Turner’s tenure as CFO, Regions has reported 13 consecutive annual profits.
• Forward look: Anil Chadha, the company’s controller, will take over after Turner’s retirement at the end of March.

David Turner is stepping down after 15 years as Regions Financial’s chief financial officer. Veteran financial executive Anil Chadra, currently Regions’ controller, will succeed him.

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Turner, 62, worked the first 20 years of his career as a certified public accountant, initially with Arthur Anderson, then KPMG. Turner joined Birmingham, Alabama-based Regions in 2005 and led its internal audit division prior to succeeding Irene Estevez as CFO in February 2010.

Chadha, 47, joined Regions in 2011. He has worked closely with Turner in a series of senior executive roles over the past 15 years. “I’ve had the pleasure of learning from the best,” Chadha told American Banker on Tuesday.

Turner said he is leaving the job on a high note, both for the $160 billion-asset Regions, which he described as “a force to be reckoned with,” and for the wider banking industry.

“The banking industry is far different than [during] the great financial crisis,” Turner told American Banker. “We have more capital in the system. We have more liquidity in the system. I think the management teams today are stronger. Next year, they’ll be even stronger.”

Turner’s tenure as Regions’ CFO has been characterized by advances in both size and profitability.

Regions, the holding company for Regions Bank, borrowed $3.5 billion from the Troubled Asset Relief Program in 2008. It struggled through 2010 and 2011, reporting losses both years, before repaying the government loan with interest in 2012.

Regions has now reported 13 consecutive annual profits, with its net income growing from $1.1 billion in 2012 to $1.9 billion in 2024. Net income totaled $1.5 billion through the first nine months of 2025.

“David has been a steady and trusted leader through some of the most pivotal moments in our company’s history,” Regions Chairman and CEO John Turner said Monday in a press release. “His financial acumen, his integrity and his unwavering commitment to making sound, strategic decisions have left a lasting legacy.”

As CFO, Turner has focused on capital allocation and enterprise risk management. Chadra will have to follow suit, and oversee the integration of artificial intelligence and other advanced technologies.

“Anil has got a really [big] interest in leveraging technology to help us do the job better, do it more efficiently,” Turner said.

Turner has also stressed the importance of team-building and mentoring during his tenure. He said Tuesday that he views the decision to replace him with an insider as a compliment.

“Anil won’t miss a beat,” Turner said. “Certainly, the leadership he has demonstrated over time has put him in great shape to take over after I leave.”

Scott Siefers, who covers Regions for Piper Sandler, characterized Chadha as “well-suited” for the CFO role. Chadha is “a 15-year Regions veteran with deep experience in the company’s finances and someone who has worked closely for years with the current CFO,” Siefers wrote.

Siefers described Turner as “a well-known, highly regarded, and beloved large regional bank CFO whose shoes will be hard for anyone to fill.”

Turner will continue as CFO until his retirement, which is set for March 31.

Turner serves as a director of Diversified Energy in Birmingham and the New Orleans-based Pan American Life Insurance Group. He said he will continue his board work but doesn’t expect to seek another full-time position.

“I’ve been working since I was 14 years old,” Turner said.