Key TSFG exec departs company

Christopher T. Holmes, South Financial Group’s director of corporate financial services, resigned from the company last Friday.

Holmes earned a salary of $274,375 and total compensation of $647,908 in 2008. He had been the Greenville-based company’s director of retail banking. 

According to information filed with the U.S. Securities and Exchange Commission, Holmes left TSFG to relocate to the Nashville area.

Prior to joining South Financial, Holmes was with Memphis-based National Commerce Financial.

South Financial has posted staggering losses over the past two years. During the quarter ended Sept. 30, it lost $340.8 million.

Since the first quarter of 2008, South Financial has lost $1.1 billion, including more than $540 million in the first three quarters of 2009. The company lost $562.5 million in 2008.

Its stock trades for around 70 cents a share.

The company is schedule to release its fourth quarter 2009 results on Jan. 26.

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