Morgan Keegan Forms New Investment Banking Division; Names Robert A. Baird President

Morgan Keegan & Co., Inc., the securities brokerage and investment banking subsidiary of Regions Financial Corporation (NYSE: RF), announced today the formation of a new Investment Banking division. The new division brings together the more than 300 investment banking professionals from the firm’s Equity Capital Markets and Fixed Income Capital Markets divisions to provide a broad scope of services and capabilities to the firm’s corporate and public sector clients. Robert A. Baird, executive managing director and 31-year veteran of Morgan Keegan, has been named president of the new Investment Banking division.

"Investment banking is the focus of our future growth as a firm and we have successfully assembled some of the finest talent in the industry,” says John C. Carson, CEO of Morgan Keegan. "Our new Investment Banking division, under Rob Baird’s very capable leadership, gives us the ability to deliver our products and services in a more coordinated fashion through the strong distribution network we already have in place.”

Baird, 58, joined the firm in 1979 as one of its first investment bankers. For the past two years, he has served as president of the firm’s Fixed Income Capital Markets division and helped lead the division to a record year in 2009. He has also headed the firm’s fixed income investment banking effort since 1996. Under Baird’s leadership, Morgan Keegan ranked among the top 10 leading senior managers of long-term municipal issues in the nation for the past two years and has been among the largest underwriters of municipal bonds in the Southeast U.S. for more than 15 years.

"Our firm’s investment bankers are some of the most talented in the industry. Combining all of our investment banking resources into one division creates a stronger, more effective platform to better serve our clients and achieve our revenue and market share growth objectives,” says Baird. "The new division will enhance our ability to leverage the client relationships of our parent company and other divisions within our firm to grow our investment banking businesses, particularly in specialty sectors such as healthcare, technology, energy, real estate, financial services, and public finance.”

Executive managing director John H. "Chip” Grayson, Jr., will continue directing the firm’s equity investment banking activities and will report to Baird. Kevin H. Giddis will succeed Baird as president of the Fixed Income Capital Markets division which encompasses sales, trading and research efforts.

Through internal growth and acquisition, Morgan Keegan has become a leader in providing investment banking services in a number of industry sectors including transportation, real estate, healthcare, technology, energy, financial services, and corporate restructuring. Morgan Keegan Investment Banking offers comprehensive merger and acquisition advisory services and public equity and private equity capital-raising services to middle-market companies, private equity firms and venture capital funds. Additionally, Morgan Keegan’s public finance practice is recognized as one the largest in the nation offering comprehensive banking services to state and local governments, utilities, airports and housing authorities. Morgan Keegan has 35 investment banking offices across the country, including in Memphis, Atlanta, Boston, Charlotte, Chicago, Dallas, Houston, Los Angeles, Miami (Coral Gables), Nashville, New York, and San Francisco.

About Morgan Keegan & Company, Inc.

Morgan Keegan & Company, Inc., one of the nation’s largest regional full-service brokerage and investment banking firms, is the securities brokerage arm of Regions Financial Corporation (NYSE: RF). Headquartered in Memphis, Tenn., Morgan Keegan serves individual and institutional investors through over 300 offices in 19 states. Additional information about Morgan Keegan can be found at www.morgankeegan.com.

About Regions Financial Corporation

Regions Financial Corporation, with $142 billion in assets, is a member of the S&P 100 Index and one of the nation's largest full-service providers of consumer and commercial banking, trust, securities brokerage, asset management, mortgage and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,800 banking offices and 2,200 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.

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