Peter Arendt to Lead Huntington Bank’s New Food and Agribusiness Initiative
COLUMBUS, Ohio -- November 27, 2012
Huntington Bank (NASDAQ: HBAN; www.huntington.com) today appointed Peter
Arendt managing director, food and agribusiness banking. Arendt will lead the
development and expansion of Huntington’s commercial banking initiative
serving businesses engaged in the production, processing and distribution of
food and agricultural products across Huntington’s markets and beyond.
Arendt joins Huntington from Bank of Oklahoma where he successfully built a
broad-based food, agriculture and related commodities business for BOK
Financial.Prior to Bank of Oklahoma, he managed development of Wells Fargo’s
food and agribusiness in the Eastern U.S.
“Peter has a long and successful history positioning food and agriculture
businesses for growth,” said Richard Remiker, executive vice president and
senior managing director of specialty banking at Huntington.“Over the last
three years, we have seen the need for increased expertise to help drive cross
sell and additional customer acquisition. Peter is intimately familiar with
mitigating commodity risk, challenges surrounding food safety and the need for
increased capital in today’s environment.”
Food and agribusiness accounts for nearly 20 percent of jobs nationally,
according to the U.S. Department of Agriculture, the bulk of which is even
more concentrated across Huntington’s markets as a major portion of overall
Midwest economic activity.
Serving an industry faced with increasingly volatile commodities prices,
changing consumer preferences, and increased expense associated with food
safety, Arendt will build out a team with extensive experience in providing
increased capital and delivering risk management solutions that protect
“Right now there’s a need for superior financial expertise in what continues
to be a dynamic and changing industry,” said Arendt. “Managing risk is
paramount, as is the ability to anticipate and manage trade and currency
issues. These are major areas of focus at Huntington.”
Arendt earned his master’s degree in business and administration and
bachelor’s degree in agriculture economics from Northwest Missouri State
Huntington Bancshares Incorporated is a $56 billion regional bank holding
company headquartered in Columbus, Ohio. The Huntington National Bank, founded
in 1866, provides full-service commercial, small business, and consumer
banking services; mortgage banking services; treasury management and foreign
exchange services; equipment leasing; wealth and investment management
services; trust services; brokerage services; customized insurance brokerage
and service programs; and other financial products and services. The principal
markets for these services are Huntington's six-state banking franchise: Ohio,
Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary
distribution channels include a banking network of more than 690 traditional
branches and convenience branches located in grocery stores and retirement
centers, and through an array of alternative distribution channels including
internet and mobile banking, telephone banking, and more than 1,380 ATMs.
Through automotive dealership relationships within its six-state banking
franchise area and selected other Midwest and New England states, Huntington
also provides commercial banking services to the automotive dealers and retail
automobile financing for dealer customers.
The Huntington National Bank, Member FDIC. The logo mark and Huntington® are
federally registered service marks of Huntington Bancshares Incorporated.
Huntington Bancshares Incorporated
Michael K. Sherman,614-480-6114
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