News Summary
Cleveland’s Huntington Bank has named Jay Turakhia the new regional president for Northeast Ohio, effective November 3. With over seven years of experience, Turakhia aims to maintain the bank’s strong position in a competitive market while fostering community engagement. He succeeds Sean Richardson, who moves to a new role, indicating a focus on leadership continuity in the region’s banking landscape.
Cleveland, Ohio — Huntington Bank has announced the appointment of Jay Turakhia as the new regional president for Northeast Ohio, effective November 3. In this capacity, Turakhia will oversee a market area that encompasses the metropolitan regions of Cleveland, Akron, Canton, and surrounding communities, which include more than 120 bank branches and approximately 2,900 employees spread across 17 counties.
Turakhia succeeds Sean Richardson, who has been promoted to president of Huntington Distribution Finance after serving as the Northeast Ohio market leader since mid-2016. During his tenure, Richardson led the market through the significant transition following Huntington’s acquisition of Akron’s FirstMerit Bank. He expressed confidence in the continuity of leadership, stating that there should not be any major changes affecting the market as Turakhia steps into his new role.
In striving to build on the strong foundation established by Richardson and his team, Turakhia brings over seven years of experience from his previous role as the Greater Baltimore market president for Truist Bank, where he served for five years. His background also includes various positions at PNC Bank within the commercial and business banking segment, further enhancing his credentials for leading Huntington Bank in Northeast Ohio.
Richardson highlighted Turakhia’s maturity, thoughtfulness, and depth of experience as key attributes that will benefit Huntington Bank and its employees in Northeast Ohio. Turakhia himself noted the opportunity as a “career-defining opportunity,” underpinned by his personal connections to the region, as his family has roots in the area. Originally from Baltimore, Turakhia’s parents emigrated from India and settled in Solon, Ohio. He is enthusiastic about relocating to Northeast Ohio with his wife and young sons so they can be closer to relatives.
In addition to the leadership change, Richardson plans to reassess his involvement with local organizations while remaining present in the Northeast Ohio market. He emphasized the pride he has in the robust deposit growth that occurred during his leadership, aiming to further foster the culture within Huntington Bank as he transitions to his new role.
At present, Huntington Bank stands as the second-largest bank in Northeast Ohio by deposit market share, following KeyBank. The appointment of Turakhia is seen as a strategic move to maintain the bank’s strong position in the competitive banking landscape of the region. As Turakhia embarks on his new role, he is expected to leverage his prior experiences to continue the growth and community engagement efforts initiated by his predecessor.
As the banking industry responds to ongoing economic challenges, the leadership at Huntington Bank is poised for change, with an eye on both continuity and innovation in service delivery and customer relations.
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Additional Resources
- Crain’s Cleveland: Huntington Bank Names Jay Turakhia Northeast Ohio President
- Wikipedia: Huntington Bank
- Morningstar: Huntington Bank Names Sean Richardson President
- Google Search: Northeast Ohio banking industry
- Cleveland Browns: AECOM Hunt Turner Joint Venture Announcement
- Encyclopedia Britannica: Banking in the United States
- Spectrum News: Huntington Bank Field Construction
- Google News: Huntington Bank leadership change
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