UPDATE 1-Synovus names Kessel Stelling CEO

Thu Oct 7, 2010 5:00pm EDT

* Stelling suceeds Richard Anthony

* Appointment effective immediately

Oct 7 (Reuters) - Synovus Financial Corp (SNV.N) said Kessel Stelling, currenly the U.S. regional bank's acting CEO, will become its chief executive officer, effective immediately.

In June, Stelling was named acting CEO after former CEO and Chairman Richard Anthony went on medical leave to recuperate from treatment of a blood vessel disorder.

Synovus, which had received $968 million under the U.S. government's Troubled Asset Relief Program, has been cautious on its ability to return to profit in 2010, after posting a wider-than-expected loss for the second straight quarter. [ID:nSGE66L0R5]

Shares of the The Columbus, Georgia-based bank, closed at $2.58 Thursday on the New York Stock Exchange. Their value has gone down by 23 percent since the company issued its $1 billion stock offering in April. (Reporting by Rachel Chitra in Bangalore; Editing by Jarshad Kakkrakandy)

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