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Truist Financial Corporation (NYSE: TFC) is a leading U.S. commercial bank that was formed through the merger of BB&T and SunTrust in 2019. Headquartered in Charlotte, North Carolina, the company is committed to inspiring and building better lives and communities through a comprehensive range of financial services. With a rich history dating back 275 years from its legacy banks, Truist serves approximately 12 million households across high-growth markets in the country.
Truist offers a wide array of services including retail, small business, and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. As the sixth-largest commercial bank in the U.S., Truist is a key player in these sectors.
Recent Achievements and News:
- On March 7, 2024, Truist Securities announced the addition of highly ranked analyst Jamie Cook as a managing director, expanding its equity research coverage in the industrials sector.
- On March 28, 2024, Truist Financial Corporation announced it would report its first-quarter 2024 financial results before the market opens on April 22, 2024.
- On April 4, 2024, the Truist Foundation released its 2023 Impact Report, showcasing its efforts in building career pathways and strengthening small businesses for economic mobility.
- On April 8, 2024, Sheffield Financial, a division of Truist Bank, renewed its long-term retail financing agreement with BRP US Inc., reaffirming their commitment to providing competitive financing options.
- On May 7, 2024, Truist completed the sale of its remaining stake in Truist Insurance Holdings to an investor group led by private equity firms, significantly enhancing its financial profile.
Truist is focused on leveraging technology and innovation, as evidenced by its investment in new technologies and recent strategic partnerships. The company's robust financial condition has enabled it to make significant investments in its core banking businesses and community-driven initiatives.
With an emphasis on collaborative culture and client service, Truist continues to expand its expertise and capabilities, aiming to deliver differentiated content, execution, and value for its clients. For more information, visit Truist.com.
Truist Foundation has launched its third Inspire Awards, a capacity-building grant program for nonprofits, focusing on creating career pathways for economic mobility. In collaboration with MIT Solve, the challenge aims to improve resources for adults seeking reskilling, upskilling, and career transitions. Qualifying nonprofits can submit applications until Jan. 8, 2025, addressing innovative solutions for career development needs of mid to late-career adults.
The program will select six nonprofit finalists for a six-month support and development program, culminating in a live pitch event. The first-place winner will receive a $250,000 grant, with additional grants for runners-up and an audience favorite award. The initiative builds on the success of the 2024 Inspire Awards, which focused on supporting undercapitalized entrepreneurs through innovative technology.
Truist Foundation has announced a $250,000 donation for disaster relief and recovery efforts in anticipation of Hurricane Francine hitting the U.S. Gulf Coast. The funds will be distributed to the American Red Cross and the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund. These organizations will use the grants to address immediate community needs such as food, shelter, and medical services, as well as support long-term recovery efforts.
Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by disasters like Hurricane Francine. Truist Foundation, an endowed private foundation established in 2020, focuses on building career pathways to economic mobility and strengthening small businesses to promote equal opportunities for community growth.
Truist Foundation, supporting Truist Financial 's (TFC) purpose, focuses on building career pathways to economic mobility and strengthening small businesses. The Q3 2024 newsletter highlights recent activities:
1. Truist Foundation President Lynette Bell led a session on 'The Urgency of Now' at the Social Innovation Summit in Chicago.
2. Announcements for the upcoming 2025 Inspire Awards.
3. Bell's participation in the 2024 Chief Executives for Corporate Purpose Summit, discussing transparency and community decision-making.
4. Emphasis on community banks' role in creating generational change.
These initiatives demonstrate Truist Foundation's commitment to driving impactful change in communities through strategic investments and partnerships.
Truist Financial (NYSE: TFC) has announced that its Chairman and CEO Bill Rogers and CFO Mike Maguire will present at the Barclays Global Financial Services Conference on September 10, 2024, at 10:30 a.m. ET in New York City. A live audio webcast will be available on the day of the event at ir.truist.com, with a replay accessible for 30 days.
Truist is a purpose-driven financial services company and a leading U.S. commercial bank with total assets of $520 billion as of June 30, 2024. The company offers a wide range of products and services through its wholesale and consumer businesses, including banking, wealth management, and specialized lending. Headquartered in Charlotte, North Carolina, Truist is committed to inspiring and building better lives and communities.
Truist Securities has announced three key appointments to its healthcare investment banking team, enhancing its industry expertise. Jefferson Rives, with 20 years of experience, joins as managing director and head of healthcare technology from Barclays. Max Riso, with 11 years in healthcare investment banking, becomes managing director in biotech, coming from Citi. Dheeraj Chinthalapelly, with over eight years of experience, joins as director in biotech from UBS and Credit Suisse.
These strategic hires aim to capitalize on the robust activity in Truist's healthcare practice and anticipated industry momentum. The expanded team is expected to deliver innovative solutions and actionable ideas to clients navigating the evolving healthcare landscape.
Truist Financial (NYSE: TFC) has announced the appointment of Steve Hagerman as its new chief information officer, effective Oct. 28, 2024. Hagerman, who will be based at Truist headquarters in Charlotte, will lead the enterprise technology team and shape the bank's technology strategy. His responsibilities will include overseeing key areas such as data and analytics, AI, information security, and technology transformation.
Hagerman brings over 25 years of experience in the financial services industry, most recently serving as CIO for consumer technology, chief technology officer, and head of consumer lending technology at Wells Fargo. He has also held senior leadership positions at JPMorgan Chase and served in the United States Marine Corps. Truist Chairman & CEO Bill Rogers expressed confidence in Hagerman's ability to drive growth and performance through technology innovation.
Houlihan Lokey (NYSE:HLI) has agreed to acquire Waller Helms Advisors, an independent advisory firm specializing in insurance and wealth management sectors. The acquisition, expected to complete by December 31, 2024, will double the size of Houlihan Lokey's Financial Services Group. Waller Helms, founded in 2014, has advised on over 230 transactions worth more than $40 billion. The deal will add nearly 50 financial professionals, including 13 Managing Directors, to Houlihan Lokey's team. James Anderson, CEO of Waller Helms, will join as Global Co-Head of the Financial Services Group. The combined entity will rank as the No. 1 advisor for global M&A transactions in 2023 in the insurance, asset management, and financial services sectors (excluding depositories).
Truist Foundation has announced an additional $100,000 grant to support relief and recovery efforts in South Carolina and North Carolina communities impacted by storm Debby. This is on top of a previously announced $100,000 grant for Florida and Georgia. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund and the American Red Cross.
The grants aim to address immediate needs such as food, shelter, and medical services, as well as medium- and long-term recovery efforts. Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by disasters like storm Debby.
Truist Financial (NYSE: TFC) has been named the title sponsor of the PGA TOUR's Charlotte-based Signature Event, now called the Truist Championship. The seven-year agreement was announced on August 6, 2024. Quail Hollow Club will continue to be the primary host, except in 2025 when the event will be held at The Philadelphia Cricket Club due to Quail Hollow hosting the PGA Championship. The tournament is one of eight Signature Events on the PGA TOUR schedule, featuring top players and offering 700 FedExCup points to the winner. It has raised over $30 million for charitable organizations throughout its history.
Truist Foundation has announced a $100,000 donation to support relief and recovery efforts in Southeastern communities impacted by Hurricane Debby. The funds will be distributed to the Center for Disaster Philanthropy's Atlantic Hurricane Season Recovery Fund, the American Red Cross, and United Way Worldwide. These organizations will use the grant to address critical immediate needs such as food, shelter, and medical services, as well as medium- and long-term recovery efforts.
Earlier this year, Truist Foundation also donated $1 million to the American Red Cross Annual Disaster Giving Program to provide quick assistance to communities affected by disasters like Debby. The foundation's proactive approach aims to support communities before, during, and after natural disasters, aligning with Truist's purpose of inspiring and building better lives and communities.
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