Truist completed its previously announced sale of a 20% stake in Truist Insurance Holdings, a subsidiary of Truist, to funds managed by Stone Point Capital, a private equity firm focused on the global financial services industry, for $1.95 billion, representing an aggregate value of $14.75 billion.
Truist agreed to sell a 20% stake in Truist Insurance Holdings to funds managed by private equity firm Stone Point Capital for $1.95 billion.
The Truist Foundation is donating $1 million to support relief and recovery efforts for communities impacted by Hurricane Ian in Florida.
Mike Maguire, Truist’s chief consumer finance and payments officer, has been named chief financial officer effective Sept. 15. Maguire succeeds current Truist CFO Daryl Bible, whose retirement was announced in May and who will remain at Truist during a transition period.
Daryl Bible, CFO of Truist Financial, will retire after a 38-year career, including more than 14 years at Truist. As Truist conducts the search for its new CFO, Bible will continue to serve in his current role to support the transition.
Truist Financial appointed Denise M. DeMaio chief audit officer, effective Feb. 28. DeMaio will lead Truist’s internal audit function and provide counsel to senior management on emerging risk trends from the vantage points of governance, processes, technologies and reporting.
Anil Cheriyan will retire as chief information officer of SunTrust Banks, effective March 31, 2018. Scott Case has been named his successor.
SunTrust Banks named Ellen M. Fitzsimmons general counsel and corporate executive vice president. She succeeds Raymond D. Fortin, who is retiring after a 40-year career.