Good move to elevate BC to head of wealth even if inform not sure the decisions of having JD be co! Guess they forgot he learned from JT and BD before him.
Other moves interesting but ML is serious about change and moving towards something new.
Any thoughts? Lots of me OC members!
New Divisions. Same id--ts running them.
@208 dipsh-t, suntrust was not participating at the time of merger. Why the fu-k would he add it?
@205 That was a Cram decision. Another disaster one of many from day one. He decided that TIS would not participate in the pension. But he made sure to go ahead and allow in his bids from BB&T that had one already and let them have it, effectively sc--wing over anyone from heritage Suntrust. Class action lawsuit should happen. How is that fair.
I was tis from subtrust. We didn’t get the pension. I gotta think there is a class action lawsuit there waiting. Unfair that Bb&t people had it but Suntrust was excluded.
@16t if it’s still getting worse why are you still there? And no, I didn’t have a retention. I was bbtis. We were told to shut up and be happy to keep our pension. Left for a better place to take care of clients, not a bonus.
@16g so you were Scott & String and bolted when your loans were up and got a better offer. Newsflash: BC was behind all that execution you want to blame JT for. No argument that JT was the single worst leader ever, but don’t paint BC as faultless and the savior for a dying business.
@16g so you admit you weren’t there the last few years and have missed all the bad BC decisions. He and his inner circle of loyalists purged most of the good leaders and presided over mass destructions. Tis is toast now from his leadership.
Ya’ll are wrong about BC. He held together TIS after they put JT over wealth. Thats where the train wreck started. BC navigated as best he could while he was limited by JT and the leaders that followed. It was BR nepotism.
My team left a few years ago, but putting BC over wealth is the first positive sign I’ve seen in years. He’s the reason we stayed as long as we did….but don’t get me wrong, so glad we left!
@10x Five-Head
The decisions made by TIS and Wealth since merger have been awful. The markets have elevated a facade of success. Pumpkin head is too d-mb to figure it out and now is looking for a new head of wealth.
@vq Most of them are only in the business of doing that, Not growing and enhancing the Firm.
Unwavering Care
The bits will keep on coming. All those $$million retention bonuses / forgivable loans are expiring and they’re free agents now. Sick to watch people living off internally driven referrals and partner Incentive plans making millions of dollars like this. “Please stay… we know this merger will change things for you …. Here’s a check for doing nothing but not leaving…. In seven years we’ll have it all figured out…. We promise….” What a racket.
Wow. Another big team in Florida left. This place is bleeding out but leadership gets bonuses and promotions for running it into the ground.
Truist is almost comedic at some of the d-mb decisions made. BC has been the source of the issues for TIS since merger. JT. BD. All came and went but BC stayed and made the disastrous decisions that have it disintegrating in front of us and somehow he fails upwards. All I can do is laugh. There were lots of good leaders in Tis years ago that were all purged so only loyalists that are incompetent remain I doubt they will come back and I doubt anyone will clean house the way it needs to be done. .
BC is a spineless coward. Not a leadership bone in his body…ineffective division directors (the three of them belong in the land of misfit toys). KS, HN and TS are ALL worthless. TS was the least qualified in the entire firm…he now travels around on the Truist credit card wasting money and resources. Big teams leaving these mo--ns every week!
@OP cram and Dunn, nothing but spineless cowards. that don’t have an ounce of leadership in their body. Followers and soldiers. No matter what the message, no matter how stupid, no matter what….. they will just do what they are told to collect their paycheck….. meanwhile, their top financial advisors leave every week. Cram’s direct reports are complete id--ts as well…
@cm The site takes down your post if you post a full name.
Who is BC? I hate how everyone on this site uses initials like we are supposed to know who you’re talking about.
@OP What a dumpster fire!! Wealth was one of the few bright spots in the earnings call but the leaders that drove Wealth's "best quarter ever" were removed to be replaced by BC? Showing ignorance in decision making. While ML is still new, the mismanagement of risk and capital in the AFS portfolio was an obvious fail, and if the CRO and CFO are on the next earnings call, his credibility will be gone
Bc has failed upward. His tenure over Tis has been an unmitigated disaster. He’s destroyed so much shareholder value there since merger. Guess it’s who you know and not what you know or how you perform in the upper ranks.