Truist Names Cummins COO as Part of Executive Leadership Transformation

Beau Cummins, vice chair of Truist Financial, will assume the role of chief operating officer immediately. In addition, Truist named Dontá Wilson chief consumer and small business banking officer and hired Kristin Lesher as chief wholesale banking officer.

November 15, 2023 Bill Rogers | Brian Dowhower | Dontá Wilson | Joe Thompson | Kristin Lesher | Truist | Truist Financial Ian Koplin

Bank of America Amends and Extends Cleveland-Cliffs’ ABL Facility

Cleveland-Cliffs amended and extended its asset-based lending credit facility. The amendment extends the maturity date of the facility to June 9, 2028, and transitions the benchmark interest rate from LIBOR to SOFR. BofA Securities served as lead arranger for the ABL facility.

June 12, 2023 Barclays | BMO | Capital One | Cleveland-Cliffs | Credit Suisse | Fifth Third | First Citizens | Goldman Sachs | Huntington | ING | J.P. Morgan | MUFG | New York Community Bank | PNC | RBC | Regions | Truist | U.S. Bank | wells fargo Ian Koplin

Truist Provides $75MM Credit Facility to Channel

Channel, a provider of equipment financing and working capital solutions, entered into a new $75 million credit facility with Truist. The $75 million commitment provides financing for both working capital and equipment finance originations.

April 25, 2023 Channel | CIBC | Eli Sethre | Mike McConnell | Regions Bank | Truist Ian Koplin

Truist Completes Sale of 20% Stake in Truist Insurance Holdings to Stone Capital

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.

April 4, 2023 Bill Rogers | John Howard | Stone Capital | Truist Ian Koplin

Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse

Last week, 11 banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, combined to make $30 billion in uninsured deposits in First Republic Bank to display confidence in the U.S. banking system following the collapse of Silicon Valley Bank.

March 20, 2023 Bank of America | BNY Mellon | Citigroup | First Republic Bank | Goldman Sachs | JPMorgan Chase | Morgan Stanley | PNC Bank | Signature Bank | Silicon Valley Bank | State Street | Truist | U.S. Bank | wells fargo Ian Koplin

Truist Sells 20% Stake in Truist Insurance Holdings to Stone Point Capital for $1.95B

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.

February 16, 2023 Bill Rogers | Chuck Davis | Davis Polk & Wardwell | John Howard | Morgan Stanley | Mubadala Investment Company | Simpson Thacher & Bartlett | Stone Point Capital | Truist | Truist Insurance Holdings | Truist Securities Ian Koplin

Truist Foundation Donates $1MM for Hurricane Relief in Florida

The Truist Foundation is donating $1 million to support relief and recovery efforts for communities impacted by Hurricane Ian in Florida.

September 30, 2022 American Red Cross | Bill Rogers | Center for Disaster Philanthropy | Truist | Truist Foundation Phil Neuffer

Truist Names Maguire as CFO

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.

September 8, 2022 Bill Rogers | Daryl Bible | Mike Maguire | Truist Ian Koplin

Groom Williams Joins Truist as Head of DE&I

Dominica Groom Williams joined Truist as head of diversity, equity and inclusion. Groom Williams will be responsible for leading bank-wide strategic inclusion and diversity initiatives, reporting to Kimberly Moore-Wright, chief teammate officer and head of enterprise diversity.

July 26, 2022 Dominica Groom Williams | Kimberly Moore-Wright | Truist | Wendy McSweeney Ian Koplin

Bible to Retire as CFO of Truist

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.

May 23, 2022 Bill Rogers | Daryl Bible | Truist | Truist Financial Ian Koplin