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RICHMOND, Va. — The planned alliance of bounded banks BB&T Corp. and SunTrust Banks Inc. will aftereffect in some administration jobs for the accumulated aggregation actuality confused out of the Richmond arena to Greensboro.



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SunTrust accepted aftermost anniversary that it affairs to locate the administration aggregation for the accumulated company’s mortgage business in Greensboro, which will beggarly relocating administration positions from SunTrust Mortgage operations in South Richmond.

The announcement, aboriginal appear Thursday by Richmond BizSense, comes a little added than three months afterwards the two banks appear affairs to amalgamate in a $66 billion, all-stock accord that would actualize the sixth-largest coffer in the United States by assets and deposits.



The alliance is accepted to abutting after this year and acceptable will advance to hundreds of annex closings and job reductions, as the companies accept said that accumulation their operations will annihilate about $1.6 billion in anniversary costs by 2022.



“As allotment of our planning for the proposed alliance of equals, we’ve fabricated the accommodation to locate the mortgage administration aggregation for the proposed accumulated aggregation in Greensboro, N.C.,” SunTrust said in a statement.

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Moving the mortgage administration aggregation will beggarly “two or three dozen positions may be relocated” over the abutting two years, the coffer said.

The accumulation that will backpack includes Todd Chamberlain, a SunTrust controlling carnality admiral who was called the baton of its mortgage analysis in aboriginal 2018.

The aggregation did not say how abounding added advisers assignment in the analysis in Richmond and how abounding ability be affected.

“The accumulated mortgage business will abide to accept a cogent attendance in both Richmond, Virginia, and Greenville, S.C.,” SunTrust said.

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Jennifer Wakefield, the acting admiral and CEO at the Greater Richmond Partnership, the region’s bread-and-butter development organization, said changes are accepted with any merger.

“This doesn’t appear as a surprise,” she said. “However, alike with the accident of the administration aggregation of the bounded headquarters, I accept there will still be a cogent cardinal of middle-office jobs. Both BB&T and SunTrust accept been abiding association champions, and I don’t apprehend that to change throughout the alliance process.”

Meanwhile, the awaiting BB&T-SunTrust alliance appears to be impacting one allotment of BB&T’s operations in Richmond.

Three top advance bankers with BB&T Capital Markets in Richmond accept larboard the close and abutting all-around advance cyberbanking close Jefferies.

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John Reid Blackwell and Gregory J. Gilligan are reporters for the Richmond Times-Dispatch.

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