SunTrust 2003 Annual Report Download - page 10

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As one example of S3+E2in action, we adopted a structured
approach to improve sales effectiveness in our more than
1,200 branches. This new approach, which has been rolled
out system-wide, calls for individual sales plans for all
employees, enhanced training, a lobby management
program and customer access to investment profes-
sionals in every office.
S3+E2is an evolving effort, but it is already contributing to results. Some highlights:
➣
In Retail Banking, 2003 sales per day by each employee exceeded the 2002 average
by 38%, and more than 63,000 new clients were introduced to our SunTrust
Securities brokers. Sales of home equity lines and loans exceeded the prior year
by $7.3 billion, or 18%.
➣
In Commercial Banking, a newly installed sales process and supporting systems con-
tributed to a 21% deposit balance increase and a 10% increase in loan balances.
➣
In Private Client Services, retail investment sales, heavily driven
by branch introductions, were up 25% for the year.
➣
In our Mortgage business, closing volumes were up 42% over last year
resulting in more than $43 billion in production. And a restructured
and enhanced cross-sell program resulted in
more than 95,000 other targeted products
and services sold last year.
➣
In Corporate & Investment Banking, an intensified
focus on developing mutually beneficial rela-
tionships with clients and a handful of new
products contributed to a 19% increase in debt
capital markets fees.
As we see it, providing customers the products
and services they need is central to fostering the
mutually rewarding customer relationships upon
which SunTrust’s long-term success is based.
S3+E2is how we’re making that happen.
8 SunTrust Banks, Inc. Annual Report 2003
SunTrust’s formula for success, “Selling,
Serving and Sustaining client relationships,
with Excellence in Execution,” highlights
SunTrust’s commitment to retaining and
building client relationships.
Mortgage lending has evolved into a key national
business with SunTrust Mortgage originating loans
through 135 locations in SunTrust markets and
adjacent states, maintaining correspondent and
broker relationships in 48 states, and servicing
loans in all 50 states and the District of Columbia.