Business Transformation | 10.16.26

Truist Adds Consumer Bank Heads, Continues Strategic Review

by: Yizhu Wang

Truist Financial CEO Mike Lyons has begun reshaping the bank’s $420 billion consumer division, appointing D. Steve Boland as vice chair, Shimna Sameer as chief consumer banking officer and Jeff Warner as chief small-business banking officer. The leadership changes support a strategy focused on growing core deposits through investments in branches, ATMs, digital banking and performance-based marketing. Truist is also exiting lending businesses that contribute fewer core deposits, including selling $7.7 billion in unsecured personal loans. Lyons’s strategic review continues through year-end as the bank seeks stronger growth and maintains its 15% return-on-tangible-common-equity target for 2027.

Read the full article on Bloomberg