It will be interesting to see the new and creative ways Truist’s executive management will conjure up to blame
their own dismal management performance.
Merger accounting was a magnificent way to hide their ineptitude initially, but that excuse has run its course. Knee-jerk layoffs were a short-term bottom line boost that kept analysts at bay - but staffing in most areas is at, or below, a critical level right now - we are losing clients for lack of service.
At some point in the next five years, I wouldn’t be shocked with another merger that pays the Truist executive team handsomely - to walk away from the mess they created!