Regions Financial Corp. announced Chief Risk Officer Matt Lusco will retire at the end of 2023 following a nearly 45-year career in risk, finance, auditing, and accounting roles. Russell Zusi has been named to succeed Lusco effective January 2, 2024.

Zusi joins Regions from Bank of America, where he has spent nearly 20 years in Risk Management and Finance roles, leading to his most recent position as co-head of Global Compliance and Operational Risk and Global Technology and Operations Chief Risk Officer. In this role, Zusi was responsible for overseeing the company?s strategy, governance, and execution of the Compliance and Operational Risk program. He prioritized comprehensive risk-management coverage and a culture of effectively managing risks, including ensuring a prudent control environment while supporting the company?s growth strategy.

He also maintained strong relationships with key regulators and supervisory institutions worldwide, the bank?s senior leadership team, governance committees and the board of directors. Zusi will serve on the company?s Executive Leadership Team. His responsibilities will include overseeing Regions?

company-wide risk-management functions, including Financial Risk, Non-Financial Risk, Compliance and Regulatory Risk, Enterprise Risk, Risk Initiative Management and Integration, and Business Unit Risk Groups for the Corporate Banking Group, Consumer Banking Group, and Wealth Management. Zusi graduated from Cornell University with a Bachelor of Science in Operations Research and Industrial Engineering and a Master of Business Administration. He serves as a board member and head of the finance committee for LIFESPAN, a nonprofit supporting people with disabilities.