They hire another old banker from another bank. Really thinking outside of the box here….lol.
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@c0 yeah in the 8K. Thats public info.
New CEO, like most, is polarizing. Some love him, some avoid him. He was president (or similar) at PNC for longer than he wanted and when the signal went up he wasn’t going to be CEO he left. 18 months and Fiserv stock has tanked. My limited knowledge of him is he won’t “turn it around” so much as turn it over Charlie-style at Wells. You can forget a Truist/PNC merger now…..
I am honored to be your teammate
https://urbanmilwaukee.com/2026/06/15/back-in-the-news-fiserv-loses-its-70-million-man/#google_vignette
Maybe Mike can have the same impact to TFC stock price.
https://www.sec.gov/Archives/edgar/data/92230/000119312526270320/d118981dex102.htm
You can see Mike’s offer letter on Edgar. 😳
No way he'll be here for more than 3 years. Why leave Fiserv for any one bank? His plan has to be to get in, sell to his cronies at one of his former banks, and golden parachute his way out like Kelly.
@an I'd already started looked for info about what he did at Bank of America, but I haven't been able to find anything yet. Can you point to anything or repost it here?
@aq I can help him with that. Seriously, Lets Go!!!
@ah this!! why do they keep brining people from a failing company to help someone fail
Lyons came in and started cleaning house right away as CEO at FiServ. Bet the whole C-suite at Truist will be replaced by mid-2027.
So SunTruist succession plan has been trying to find someone willing to take the job? Watch the rats start jumping ship as if anybody wants them.
@aj you might want to read what he did at Bank of America. I don’t know him, but at least be fair.
Reading the comments to Bill’s announcement on The Source will have you laughing out of your chair.
@ac He's Michael and his admin assistant signed it "Mike". He's one of us!
@ah - its widely agreed that he inherited a mess at Fiserv vs creating the mess. However, just as bad in the context of Truist hiring him is that he has very little experience, and in that limited experience, did nothing of note to turn the aforementioned mess around.
Truist lust hired a man who destroyed the Fiserv stock value and ran the company into a ditch.
Well Bill is going to he-l unless he pays ppl milllions that he hurt. That’s not gonna happen, so he-l will have two new streets. King Ave and Rogers Blvd.
@ab and what firm was that?
Mike Lyons is actually coming from FiServ. Charlotte Observer reported it wrong.
At least they didnt give it to that Butterball Lesher. Hopefully this new guy comes in and cleans house.
The Lyons Hello email just dropped. It looks like we replaced one id--t with another id--t.
@a6 All of the benefits su-k. The ESPP is so bad you should not do it. It is a 10% discount on the price at close of the period. Every other ESPP program I have ever been part of is 15% of the lowest price from the either the beginning or the ending of the period (using options). It is horrible. It is the pooh icing on the 401k match and all the others.
Hope he gets rid of some of the fat in upper management that don’t do anything. Dante, we are looking at you.
Interesting to read the posts on the Fiserv forum. If he was getting $70 million there, wonder what he’s getting at Truist.
Good riddance. Sept 1st can't come soon enough.
Imagine hiring a banker to run a bank.
Anybody know anything about the new guy and whether he’ll make enrolling in ESPP a better or worse idea? And how prone he might be to chopping people and replacing them with AI?
Suntrust folks are scared now
Will this be an annual celebration day for Truist?
Kristin and Dante already working on their pitches about how their businesses don’t su-k.