This afternoon the name of what will become one of the largest banks in America was announced by BB&T and SunTrust Bank executives.
The new Charlotte-based bank merger between BB&T and SunTrust will officially be called “Truist” (a far cry from the name most Charlotte residents voted on).
In a statement about the new name, SunTrust’s current CEO Bill Rogers said, “Truist is a brand name representative of two mission- and purpose-driven companies coming together to serve our clients as a true financial partner.”
On their new combined website, the banks state, in fluffy marketing jargon, what the names “means”:
“Truist is the first signal of our bold future together. It reflects a shared belief in building a better future for our clients and communities.”
The new company put out a promo video featuring a bunch of random people saying “are you ready”, then a lady’s voice overdubs a black screen and says, “BB&T and Suntrust…coming together to transform financial services”;
— BB&T (@BBT) June 12, 2019
The new bank will build its headquarters in Uptown Charlotte’s Hearst Tower.
The headquarters will include an expansive Innovation and Technology Center to drive digital growth and development. The former community banking centers of both companies will remain in operation in Winston-Salem and Atlanta.
The board of the new company will be comprised of an equal number of executives from both companies.
“This is a true merger of equals, combining the best of both companies to create the premier financial institution of the future,” said BB&T Chairman and Chief Executive Officer Kelly S. King.
The new bank will add $442 billion in banking assets to Charlotte, bringing us one step closer to regaining the title of “second biggest banking city in America“.