Company Website:
http://www.huntington.com
COLUMBUS, Ohio -- (Business Wire)
Huntington Bank (NASDAQ: HBAN; www.huntington.com)
today appointed Peter Arendt managing director, food and agribusiness
banking. Arendt will lead the development and expansion of Huntington’s
commercial banking initiative serving businesses engaged in the
production, processing and distribution of food and agricultural
products across Huntington’s markets and beyond.
Arendt joins Huntington from Bank of Oklahoma where he successfully
built a broad-based food, agriculture and related commodities business
for BOK Financial. Prior to Bank of Oklahoma, he managed development of
Wells Fargo’s food and agribusiness in the Eastern U.S.
“Peter has a long and successful history positioning food and
agriculture businesses for growth,” said Richard Remiker, executive vice
president and senior managing director of specialty banking at
Huntington. “Over the last three years, we have seen the need for
increased expertise to help drive cross sell and additional customer
acquisition. Peteris intimately familiar with mitigating
commodity risk, challenges surrounding food safety and the need for
increased capital in today’s environment.”
Food and agribusiness accounts for nearly 20 percent of jobs nationally,
according to the U.S. Department of Agriculture, the bulk of which is
even more concentrated across Huntington’s markets as a major portion of
overall Midwest economic activity.
Serving an industry faced with increasingly volatile commodities prices,
changing consumer preferences, and increased expense associated with
food safety, Arendt will build out a team with extensive experience in
providing increased capital and delivering risk management solutions
that protect margins.
“Right now there’s a need for superior financial expertise in what
continues to be a dynamic and changing industry,” said Arendt. “Managing
risk is paramount, as is the ability to anticipate and manage trade and
currency issues. These are major areas of focus at Huntington.”
Arendt earned his master’s degree in business and administration and
bachelor’s degree in agriculture economics from Northwest Missouri State
University.
About Huntington
Huntington Bancshares Incorporated is a $56
billion regional bank holding company headquartered in Columbus, Ohio.
The Huntington National Bank, founded in 1866, provides full-service
commercial, small business, and consumer banking services; mortgage
banking services; treasury management and foreign exchange services;
equipment leasing; wealth and investment management services; trust
services; brokerage services; customized insurance brokerage and service
programs; and other financial products and services. The principal
markets for these services are Huntington's six-state banking franchise:
Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The
primary distribution channels include a banking network of more than 690
traditional branches and convenience branches located in grocery stores
and retirement centers, and through an array of alternative distribution
channels including internet and mobile banking, telephone banking, and
more than 1,380 ATMs. Through automotive dealership relationships within
its six-state banking franchise area and selected other Midwest and New
England states, Huntington also provides commercial banking services to
the automotive dealers and retail automobile financing for dealer
customers.
The Huntington National Bank, Member FDIC. The logo mark and Huntington®
are federally registered service marks of Huntington Bancshares
Incorporated.
Contacts:
Huntington Bancshares Incorporated
Michael K. Sherman, 614-480-6114
michael.sherman@huntington.com
Source: Huntington Bancshares Incorporated
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