https://www.bankingdive.com/news/truist-bonuses-cfo-maguire-top-consumer-banker-wilson-executive-compensation/725907/
17 replies (most recent on top)
Wonder how this sits with other C-Suite members? I would have to think not very well, unless theirs will be coming later. Good thing we had a two percent reduction in 401k match to help offset it.
No words to adequately describe my contempt for this.
Old Billy Boy needed to pay them off to keep his secrets. But Donte is a man of the people flashing peace signs and talking about hip hop music.
Just think how many branch banking positions that are needed could have been funded by this lunacy.
What on earth did either of these individuals do to deserve this sort of bonus? I’m disgusted!
As a former employee that was “RIF’d” earlier this year, I find these retention (or whatever they are) bonuses disgusting. It is a pity that the bank couldn’t find a better way to use this money …. Maybe reward the people that are actually doing the work?
Closed my last Truist account today. I had to visit a local branch where there were too few folks working and customer waits a bit too long. The branch had a very gloomy atmosphere. Maybe I am too naive but it would seem that if a client came in to close all of their accounts, that there might be a feeble attempt to keep the client (“how can we make this right?”). In my case accounts consisted of a mortgage, an equity line and 3 deposit accounts. Just a drop in the bucket, I realize, but a customer nonetheless.
What does either one of them do or know that justifies $4.5 mil. What do they have some secret knowledge? No. Results of the bank don’t justify that much money, ridiculous.
An even bigger slap in the face was the article about the Truist leadership institute and it's fancy new building. I can't even pay for my direct to come to on-site joint planning session but they get 60+ executive suites?!?
As a HBBT I always liked Donta. He seems like a nice guy who was getting his due and it was good to see him recognized. It's a shame we've come to a point where we need to buy his loyalty and just another misstep in a long chain of failures at Truist, starting with the name Truist which as I type this out still is not recognized by the spell checker because it is such a terrible name.
Didn’t think any bank could be worse than BofA. But Truist has definitely exceeded in that area. They are a terrible company to work for. They do NOT support a good work/life balance. If looking for good employment- skip Truist
Who's wit me at the Golden Corral for my celebration???
Disgusting. We are told to cut expenses everywhere we can, then they hand those two id--ts more money in a bonus than many teammates will make in a 30 year career.
I worked at BBT. It was nice and I enjoyed my life. Then I worked at SunTrust. It too was nice and I enjoyed my life. Then “it” happened and after two years got outta there. So sad. 2 + 2 = Deep 6.
It's a big club and you ain't in it.
This is disheartening to read as a teammate. Being asked to sacrifice and brow beaten whe it comes to expense management. When this is added with all of the teammates lost through Project Star, it really makes it difficult to trust, let alone respect executive leadership. We know you monitor this board so know that we're paying attention to your shameless hypocrisy.
If Mike Mayo doesn't rip them a new one for this during the next earnings call, I'm going to be disappointed.
Outsourcing fuels the dream,
while executive bonuses steer the team.
Without a doubt, Truist is a poorly run company and employees are treated like garbage. That is one reason Glassdoor.com rankings are lower than peer banks and the engagement survey rankings are consistently low. Employee turnover has increased and executives continue to lay off and outsource jobs overseas. Truist is nothing more than a personal ATM to the executives and it’s the employees who bear the brunt of this cost.
Truist employees need to unionize and go on strike and demand better!
👍 Nice
A slap in the face to employees. Rank and file get paltry (if any) raises and bonuses in March. Bumbling Bill promises to keep expenses flat this year. Why stay with a company that does not value employees?