Let’s face it folks. Whether leadership will admit it or not, our new purpose is SURVIVAL.
Bill Rogers and his legacy team have taken two respected banks and turned them into one entity that’s barely able to keep its head above water.
And if you think, as an employee, you matter to them you are sadly mistaken. If you have a vested pension, get out now….while you can.
@rja+1p18peP3 is another smartest kid in the room. Fits in perfectly at SunTruist. Probably not very good at their job but can damn sure tell you how you’re not doing yours correctly. LMAO Post an excel spread sheet about it……
So many are here for the wrong reasons, and the ones telling the truth are lost to the cry babies who most likely deserved to lose their jobs for lack of performance.
*** you may be right about the first, but someone that posts like this has a bottom of the barrel EQ and should be let go
It's so funny the absolut lack of knowledge of how a sale of this size goes and why you would sell. They sold 20% as a start so the acquiring company could raise money, which they are still trying to do. The way to do this is to be in the game already. Why sell? The asset is worth more now than later. If you believe that global warming and environmental damage from it is not in play on all levels of Insurance, then you are a FOOL! So many are here for the wrong reasons, and the ones telling the truth are lost to the cry babies who most likely deserved to lose their jobs for lack of performance.
Pretty sure I saw the same post and my jaw dropped. There is no truth anymore only a thin veneer of artificial positivity over everything.
I saw a LinkdIN post this AM where someone THANKED the Truist leadership for letting them go in a RIF.... you all are in a cult
One of the first major actions Bill did at SunTrust was to axe their pension and now he’s selling off a major cash cow and people are still saying he’s got a master plan. His master plan is to do short sighted sh-t to make the stock price go up. That’s it. His track record is to keep barely keep the wheels on until helis company in acquired. That’s it.
mUh CLiMaTe cHaNgE
You realize TIH is primarily a brokerage, right? So the underwriting exposure is held by other entities.
“ They are selling the insurance because it is an asset at its high point and will only go down from here.”
“So, this asset is worth less every day.”
If what you’re saying above is true, then they really screwed up when they only sold 20% back in March/April, right? Anyone with a brain can see that! More short-sighted decision making and no planning…..
Some of the d-mbest posts to date are right here! They are selling the insurance because it is an asset at its high point and will only go down from here. Insurance is super sensitive to the environment. Anyone with a brain can see that it is forever changed and will continue to worsen. The weather claims (Rain, Storms, Fire, and Flooding) are unbearable, and raising rates has a financial ceiling, especially when the government jumps in and makes one. So, this asset is worth less every day. Now, taking the money and making it work for you is what BR has to do. He is not in this role because he has no skills. Give the guy a chance to run a big bank. I congratulate him on his start by getting a great value for the insurance business.
McGriff was the one shining light in an otherwise dark and gloomy room. Selling it for $10Billion will help BR and friends fix a short term problem but will be detrimental in the long term. Bill and the boys have ruined a good company.
Just heard the GC is “retiring” at the end of the year. You know it’s bad when even the lawyers are jumping ship!!
I wish I was in the Insurance department. They have a light at the end of the tunnel to leave this sh$tty institution.
I just texted my spouse “truist is selling their insurance, I need to get off this sinking ship!”
Teammates have a true case of Stockholm syndrome post merger. Many are willing to go down with the ship.