SunTrust 2012 Annual Report Download - page 7
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5
ratio below 60%. Over the course of 2012, we
made tangible progress. Revenue increased, we
eliminated certain core operating costs, and
cyclically high expenses began to decline. As we
look to 2013 and beyond, continued progress in
lowering our efciency ratio will remain a top
priority. In light of what is expected to be a
persistently challenging revenue environment
for the industry, expense management will
continue to be a priority for SunTrust.
Underpinning our strategic priorities is a
focus on excellence in execution and building
a performance culture. Excellence in execution
entails utilizing more standard, measurable, and
repeatable processes for many of our operational
activities. This reduces performance variability,
ensures a more consistent experience for clients,
improves productivity, and reduces risk.
Our teammates are at the heart of our performance
culture. In this relationship-driven industry,
our teammates are a competitive advantage. As
such, we are dedicated to attracting and retaining
top talent and developing our teammates within
a performance management framework.
within the context of expanding our Wholesale
Banking business, is a key to our future growth.
We have built a premier middle market investment
banking franchise, have strong and expandable
relationships with our commercial clients, and
are optimistic about our prospects in our
commercial real estate business.
At the same time we are working to deepen
our share of wallet and increase market share
across our segments. This includes growing our
relationships with existing clients, particularly
consumers, by leveraging the industry-leading
client loyalty we have built. To that end, we
are improving sales management, investing
in the tools our teammates need to increase
productivity, augmenting our team with top
talent, and making certain enhancements to
our product suite. In addition to meeting more
of our clients’ needs, the protability potential
with this is compelling as generating additional
revenue from existing clients is a cost-effective
method for growth.
Of course, improving efciency is at the center
of everything we do as we work to achieve
our long-term goal of reducing our efciency