On Wednesday, June 12, the mega bank that would be created by a planned merger of BB&T Corporation and SunTrust Banks, was given the name Truist, reported the Financial Times.
The name will be applied to what would be the nation’s sixth-largest bank with assets of more than US$440 billion and headquartered in Charlotte, which already is home to Bank of America. The mega bank will have a strong presence in the Southeast, in which BB&T and SunTrust already are based.
“With the merger of equals, our goal is to create a bold, transformative organization that delivers a smarter and easier client experience through technology and human connection,” said BB&T Chairman and CEO Kelly S. King, who will serve as the chairman and CEO of the combined company. “True to the heritage of both companies, Truist will reflect what we stand for — a shared belief in building a better future for our clients and communities.”