I am not sure if it is blatant arrogance or ignorance but has anyone else noticed the nice new cars the executives are parking in the parking deck? Seems to be saying “we know we have cut off the livelihood of thousands of families but we do not care, we are still making millions”
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Very different from what the hBBT execs used to drive - GMC pickups and similar. They weren't cheap, but they also weren't flashy in-your-face I've got money vehicles.
This is from the 2024 Proxy Statement:
“Our NEOs receive limited perquisites and other personal benefits that the Committee believes are reasonable and consistent with our overall executive compensation program. Such perquisites may include residential security services, executive physical wellness examinations, occasional use of sports tickets, spousal participation in certain corporate events and limited personal use of the company aircraft and driver. Our NEOs do not receive the following perquisites: corporate housing, personal club memberships or automobile allowances.”
NEOs are defined as including “the CEO, the CFO and our next three most highly-compensated executive officers.” I didn’t bother to look up who the “next three” are.
So at least according to that, they do not get a company paid car, BUT do get to use the company planes. It makes me sad that EL has to struggle to make their own car payments on their measly multi-million dollar salary. Yes, that IS sarcasm for anyone who is sarcasm challenged.
As an aside, it appears that the bank owns multiple aircraft according to the FAA registration. I can’t link it directly, but you can look it up by name on the FAA website.
We talking Lambos or BMWs here? Would be very interested in knowing what sort cars they drive and if any have drivers
Okay they just get a stipend, but honestly what’s the difference?
My guess is they crash a big heavy Mercedes into a Kia while on bank business some lawyer will find a way to sue the bank
I wouldn’t think the bank leases vehicles for the execs, that would make Truist legally responsible if they are driving intoxicated and ultimately ki-l someone or a family.
I can guarantee that the executives get a stipend in their checks for a vehicle.
The parking is part of the stipend as well, no doubt.
My manager promised me that when I become AVP (fingers crossed - very soon!), Truist will purchase for me a "gently used" 1989 Geo Metro! That car is a classic! Is Truist a great company or what?! I can't get wait to get that car! I'll use my AVP bonus to get a Maaco premium paint job, and then the women will be chasing after me! I'm even going to get a vanity license plate that says "TRUISTAVP" or "TRUIST#1" or something like that! You guys can complain all you want, but for me, Truist is the place where dreams come true! You just gotta believe!
A friend of mine on the Credit Risk side told me that in Mo's (Our Chief Credit Officer) last all hands call he mentioned his "corporate condo" while trying to connect with people in Atlanta that have had trouble in their parking garage. Something to the effect of "even in the corporate condo where I live during the week in Charlotte, we've had break ins"
The senior leader's here are so far removed from what we deal with it is crazy. I wouldn't be surprised if some have their car leases paid for by the bank.
My guess is the bank leases insures them and puts gas in them. It’s part of their employment contracts and the parking thing that’s like the tip
I’m sure the ban doesn’t lease these extravagant vehicles for the executives but I would almost bet the bank pays for parking for them. While the peons have to pay for their own parking.
My guess is the bank leases them for them
So add that to your indignation
Arrogance and just being out of touch.
Most of these people lease their cars, so they’ll have a new one ave 2-3 years