My assumption is the new Board leaves in place to assist with the RIF and consolidation. However, long term, Bill has not proven to be capable of managing a bank of this size and scale.
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I just hope he gets another 27% raise.
The risk teams memo was kinda funny compared to how clearly the overall statement made clear pain is coming for Risk in January.
Donta-mania's running wild!
I echo the disappointment Starnes. Risk is a complete dumpster and instead of fixing the ship, allowed the same clowns to continue running the show. I made the false assumption risk would be the place in Truist where logic would prevail due to the regulators.
Starnes, Weaver and Donta are all hBBT. Starnes is the most disappointing of the lot for what he has allowed to happen and will happen through the credit orgs he is responsible for. Weaver’s a tool, no more no less and we all know what Donta is.
Oh and don’t forget our Chief Teammate Officer who is leading the handling of the layoffs happening now and in the future. Using metrics like time on the specific job to determine who stays or goes not skills for one example. Worst part is they will ride off into the sunset with millions.
They’ve removed all BBT voices from the board, no one left to keep him from doing whatever Mike Mayo and the analysts demand. Make no mistake, we take orders from the shareholders not the board but in some cases they’re the same. Clark Starnes is the last BBT person on EL which means he’s next on the chopping block. Beau is certainly next in line to succeed Bill.
Bill will survive and probably get a huge raise. The board said his compensation was performance based then gave him a 22% increase when the stock was cut in half. So apparently the performance isn’t much for him to get a raise
Because Joe Thompson is DESPISED by everyone who has and is working for him. He’s a purple kool-aid drinker overseeing so many disasters in Wealth yet his rear end still sits in a chair when he should have been fired 3 years ago. Remember. EL doesn’t think logically. It is all about whose butt you kiss. We in Wealth think either that is where he being groomed to end up or he has something big on Rogers. .
Beau would be a disaster… guy has the personality of a wet napkin.
What makes you think Joe? TRUIST is not a wealth bank or significant in the asset management business. With a new Board in place, I could see an external hire similar to Wells Fargo with Charlie.
Mr Rogers powers increase come 1/1/24. He will control BOD after it is downsized. At almost all levels management will be former STI or outsiders brought in by STI leadership. No current world exist that BR will be taken down. If so which former or current investment banker ascends? Beau, Mike , Thompson? If any of these guys are the answer someone should change the question!
Of course he will. The CEO is the chief narcissist. He survives into retirement and then (my prediction) Joe Thompson ascends to CEO.