So Bill says there are some "bold changes" coming!
Can we start with having him step down and insert someone that knows how to rescue our failing bank?
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I thought Bold Change had already happened. Take two smaller banks in good shape and make one big bank that continues to underperform in markets that they were dominant in. That’s a pretty Bold accomplishment. Start by buying a 500 million office tower and building new hangers for all the corporate jets at CLT. Nothing says Bold more than the egos of the smartest kids in the room, right?
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For folks saying that US Bank will buy us. Think about this. US Bank had to go out to the market to raise capital to the tune of over $3B. They just have a good chunk of stock to MUFG as part of their purchase of UnionBank . USBank has its share of regulatory problems like us. And for those wondering , ask the UnionBank folks how they were treated as part of the acquisition. They were treated like cr-p.
Odds are the pension will be replaced with an UberEats gift card, to appeal to Gen-Z.
I hope the bold changes have nothing to do with the pension
Drop Truist like a used rubber!
I highly recommend that Truist “Rightsize their expense chassis” immediately.
I am betting on US Bank buying them and cutting everything.
Heritage BB&T associate that retired after 30+ years that lived through the announcement, transition and conversion. Two words come to mind - OVERWHELMED and UNDERPREPARED.
The market today spoke loud and clear about management of SunTruist, down over 7 percent after missing EPS by 10 percent. US Bank missed EPS by 23 percent and their stock is up slightly. Unfortunately you Teammates will suffer the consequences not the pi-s poor management running this company. Two poorly run banks combined into one poorly run bank does not bode well for your future or your purpose.
So what are these “Bold Changes” Mr Rogers spoke of? Didn’t he sell the analysts some BS about this? Other than getting rid of more of you Teammates or driving you off with more check sheets and nonsense from compliance and audit. Things that aren’t your responsibility but you are made responsible for to keep the precious RM’s and documentation people from having any responsibility whatsoever.
I don’t believe Truist is going to buy anyone. As someone mentioned earlier, the most obvious strategy is for Bill and team to find a merger partner.
The Truist executives will show what wonderful human beings and team players they are by agreeing to step away (aka let the merger partner inherit their disaster) for a big negotiated payout.
Where did you hear or read this quote?
Mr Rogers is setting up for a purchase of 100 billion bank or merging with US Bank or someone of like size to SunTruist in the next couple of years.
No one cares about Purpose Driven Lending Bill. We are a bank. Make money. Pay the shareholders. You are running out of merger excuses. Tick tok
Yes Mr Rogers (pun intended)
has used the Purpose schtick for awhile now. I don’t understand why this doesn’t work with you “Teammates”!
“I fundamentally believe that people want to do business with companies that stand for something,” he says. “There is never a point in time where I’m standing in front of teammates or in front of clients or in front of a community when I don’t talk about purpose.”
Maybe another 27% raise for himself and cut your pension, 401k, vacation, etc…you know anything that would make the lil person happy!
They are going to change to single ply toilet paper! Or chock-full-o-nuts coffee?