Manny Perdomo gets new role as SunTrust announce changes

Manny Perdomo could aptly be called the guru of international banking for SunTrust Banks and that’s apparent in his new role.

Perdomo, who was profiled by SFBW last year, is leaving his role as South Florida Division Commercial Banking president to be head of international risk delivery. He will be responsible for credit approval, compliance and operational risks for all SunTrust international exposures within the consumer and wholesale segments, including owning international components of all risk policies and all risk oversight for international wealth management, SunTrust stated in a press release.

Scott Cathcart, who serves as SunTrust’s Central Florida Division president, will add the duties of Florida Division president. It appears SunTrust isn’t naming a new South Florida division president as part of what’s being called a One Team approach. The approach integrates financial and industry expertise from across the SunTrust organization to meet client’s needs.

Cathcart will have responsibility for providing commercial banking products and services across the state, as well as coordinating the delivery of the investment banking and capital markets capabilities offered by SunTrust Robinson Humphrey to business and commercial banking clients.

SunTrust’s South Florida leadership will remain unchanged: Paco Gonzalez in Miami, Christopher Chase in West Palm Beach, and Shawn Sackman in Fort Lauderdale, the company said.

The move will allow Perdomo to focus on an area where he has longtime expertise.

As the 2017 profile explains, he got a call in late 1994 to be SunTrust’s international trade finance manager in Miami.

The timing was right because U.S. Treasury Secretary Nicholas Brady had developed a debt reduction strategy for Latin American nations, which came to be known as Brady bonds.

“Before that, there was more than a decade of stifled business because of the debt crisis,” Perdomo says. “All of the sudden business in Miami became vibrant.”

The profile also explains why Perdomo left SunTrust at one point, gained more international business experience and then returned.

 

 

 

You May Also Like
BBX Capital Implements Strategic Measures Amid Economic Challenges

Intends to Suspend Filing Reports with the SEC and File Financial Information with the OTC Markets

Read More
TD Bank Ranks No. 1 in Florida in J.D. Power Retail Banking Study

TD Bank achieved the highest score for consumer trust.

Read More
J.D. Power Names Fifth Third Bank as Florida’s No. 1 Retail Bank for Customer Satisfaction for Second Consecutive Year

The Study also noted that customers rated Fifth Third No. 1 for account offerings and value.

Read More
Fictor Expands International Operations with U.S. Office Opening In Miami and Investment Plan Exceeding $100 Million

In the U.S., Fictor will launch operations by providing payroll-linked consigned credit to the private sector, starting in 2025 with $10 million in company capital.

Read More
Other Posts
Florida and Texas Are Gaining Residents at a Slower Rate, Redfin Reports

The rising cost of housing and the increasing frequency of natural disasters are slowing migration to Florida and Texas metros.

Read More
Live Local Act Could Finally Make an Impact on Housing

These proposed updates could finally fulfill the Act’s original promise – bringing critically needed housing to high-cost areas.

Read More
Broward Partnership Hosted Annual Salute to Leadership: “Gala in the Glades” Event on Saturday, March 29th

Community Leaders Honored for Addressing Homelessness and Affordable Housing Challenges

Read More
Luxury Development Glass House Boca Raton Breaks Ground

The nine-story residential development is slated for completion in Q2 2027. 

Read More