What’s going on in Wealth? Just heard today that some layoffs happened quietly in late 2025, but more are coming.. Specifically to Trust, not TIS and this will directly impact central/eastern NC.
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@1pj I second that emotion. I lived that experience and it was like standing in a cold shower tearing up $20 bills. Pegged the introvert scale, is entitled elitist, and with an EQ below zero let everyone know he was just checking a box on his trip to CEO. OH, and bragging about ki-ling elephants and rhino’s didn’t help his image either.
I believe Wealth was done when Joe Thompson was chosen to lead the group at merger. Without doubt the worst manager, across almost every facet, I have experienced in my career. And like everyone else, I have seen some really bad ones.
I heard wealth has had a lot of cuts since project star. It’s salami slicing. Small cuts every couple months and people don’t notice. China style. Getting near the bone but the slices need to keep coming.
SunTruist seems to be littered with a lot of d-mba**es who have no clue how bad management at all levels has sc--wed up so many regions that they are now putting on a full court press to recover. Letting Suntrust egos run amuck in the merger and continue out of control 6 years later is still a problem for this investment bank (what a laugh)
Bogus post that keeps coming up once a quarter.
@gh Thanks Bill!
Wealth and Brokerage are the few LOB that do really well. Double digital growth and excellent client service surveys.
Truist’s reputation in the wealth segment is worse than WF which says a lot! Wealth clients are pretty savvy and they can spot this cesspool of a bank from a mile away.
Not surprised if true. There is actually a lot of wealth in that market, old family money. But when the hSTI people were dismantling the CRE CCB, all of those loans were exited and the deposits and wealth followed. So, all those wealthy clients left the bank, never to return. The crazy thing is, someone at hSTI, actually thought that the bank could exit the CRE loans, but those clients would keep their deposits and wealth with Truist. Obviously, the clients left and took their money with them. So, no need for wealth advisors in that market when all the wealthy people there hate Truist. The reputational damage caused will last decades.
Eastern NC? So nobody of value was lost. Bye-bye BBT crony hires!
I don’t work there anymore but I did hear from a friend that trust and financial planning functions were consolidated. Perhaps that’s it. Shrinking to greatness.