Truist names DeMaio chief audit officer

Rhea-AI Summary

Truist Financial Corporation (NYSE: TFC) has appointed Denise M. DeMaio as Chief Audit Officer, effective Feb. 28, 2022. DeMaio succeeds Dale Jeanes, who is retiring after over 33 years of service. She will lead the internal audit function and advise management on risk trends. Previously, DeMaio held senior audit roles at Mitsubishi UFJ Financial Group and TD Bank. DeMaio holds an MBA from Northwestern University and is a certified public accountant.

Truist, headquartered in Charlotte, North Carolina, boasts total assets of $530 billion as of Sept. 30, 2021.

Positive

• Appointment of Denise M. DeMaio as Chief Audit Officer is expected to enhance internal audit leadership.
• DeMaio brings extensive experience from MUFG and TD Bank, which may strengthen Truist's audit function.

Negative

• Retirement of Dale Jeanes may lead to a transitional period as new leadership is established.

CHARLOTTE, N.C., Jan. 10, 2022 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today appointed Denise M. DeMaio as chief audit officer, effective Feb. 28, 2022. DeMaio will report directly to the Truist Board of Directors' Audit Committee and administratively to Chief Executive Officer Bill Rogers. She succeeds Dale Jeanes, who is retiring after 20 years successfully leading this key function and more than 33 years of distinguished service to Truist and BB&T.

DeMaio, who will be based in Charlotte, North Carolina, 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.     

"On behalf of Truist's Board of Directors, senior management and teammates, we're delighted to welcome Denise as the newest member of the bank's Executive Leadership team," Rogers said. "Denise's deep internal audit and public accounting expertise, and her innate capacity to create line of sight and inspire her colleagues to do the same will elevate Truist's purpose-driven business. The transition in leadership will be seamless. Dale has been an invaluable member of our team and leaves behind a strong legacy of contribution and inspirational leadership. We wish Dale all the very best in his retirement."

DeMaio comes to Truist from Mitsubishi UFJ Financial Group Inc. (MUFG) where she oversaw the foreign banking organization's internal audit function as managing director and chief audit executive, The Americas, and executive officer and deputy global chief auditor. Prior to joining MUFG, she served as executive vice president and chief auditor, United States, at TD Bank, where she created Centers of Excellence and the U.S. Audit Operations/Professional Practices group, as well as a Regulatory Compliance and BSA/AML Audit Group, to strengthen the bank's control environment.

DeMaio earned her MBA from Northwestern University's Kellogg School of Management and her bachelor's degree in accounting from Northern Illinois University. Driven by purpose, mission and values, she is a certified public accountant and risk professional; a board member of The Institute of Internal Auditors and YWCA Metropolitan Chicago; and was recognized by The American Banker in 2021 in the Audit Grouping as one of The Most Powerful Women in Banking.

About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range 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. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $530 billion as of September 30, 2021. Truist Bank, Member FDIC. Learn more at Truist.com.

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SOURCE Truist Financial Corporation

FAQ

Who is the new Chief Audit Officer of Truist Financial Corporation?

Denise M. DeMaio has been appointed as the new Chief Audit Officer, effective Feb. 28, 2022.

What experience does Denise M. DeMaio bring to Truist?

DeMaio has prior experience as chief audit executive at Mitsubishi UFJ Financial Group and TD Bank.

When did Dale Jeanes retire from Truist?

Dale Jeanes is retiring after over 33 years of service, as Denise DeMaio steps into the new role.

What is the total asset value of Truist Financial Corporation?

As of Sept. 30, 2021, Truist Financial Corporation has total assets of $530 billion.

Where is Truist Financial Corporation headquartered?

Truist Financial Corporation is headquartered in Charlotte, North Carolina.