NU Online News Service, Dec. 23, 10:10 a.m. EST

BB&T bank said it has named its Chief Executive Officer, Kelly S. King as chairman of the board effective Jan. 1.

Winston-Salem, N.C.-based BB&T is listed as the third largest bank in insurance after Wells Fargo & Company and Citigroup according to Who's Who in Bank Insurance.

Mr. King, 61, succeeds John A. Allison, who served as chairman since 1989. Mr. Allison will continue to serve on the 18-member BB&T corporate board.

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