Sheffield Financial names new president

Sheffield Financial, a Clemmons, N.C.-based division of Branch Banking and Trust Company (BB&T), announced March 20 that Jeff McKay has been named president effective April 1. This position was held previously by Jeff Ellison, who will transition to a new role as loan administrator with the BB&T Commercial Real Estate and Commercial Credit Administration groups.

“We are fortunate to have Jeff McKay in this very important leadership role as he brings a wealth of proven leadership,” said Sheffield Financial CEO Jack Snow. “Jeff’s background of success in operations, credit and sales-focused roles, combined with his entrepreneurial approach to business, will provide a great foundation for his new responsibility at Sheffield.”

McKay, 53, joined BB&T in 1986, and he has spent significant time as a subsidiary manager in specialized lending, giving him exposure to a number of BB&T’s specialized finance companies. Most recently, he served as the director of corporate banking for the Community Bank. Prior to this role, McKay held multiple leadership positions of increasing responsibility in corporate loan administration, commercial real estate-owned sales, specialized lending, and as a commercial credit officer and market president.

McKay received his bachelor’s degree in business administration from Campbell University’s Lundy-Fetterman School of Business and was a graduate with distinction from the Stonier Graduate School of Banking at the University of Delaware. He is also a 1986 graduate of BB&T’s Leadership Development Program. Still active with his family’s farm, as well as an avid hunter and outdoorsman, McKay understands the unique requirements demanded by Sheffield clients.