Truist’s Daryl Bible to retire, search begins for new CFO – American Banker

Written by Amanda

Truist’s Daryl Bible to retire, search begins for new CFO  American Banker

Truist Financial will conduct a search for a new chief financial officer after Daryl Bible, who has served in the role since December 2019, announced plans Friday to retire.

The $558 billion-asset bank said Bible, 61, will remain in the role as the company goes through the search process in order to “support a successful transition.”

Bible, a member of Truist’s executive management team, is credited with playing a major part in the merger between BB&T and SunTrust Banks that created Truist two and a half years ago. He joined BB&T in 2008 and became its CFO the following year, working alongside Kelly King, who served as chairman and CEO of BB&T and later Truist, until he retired in September.

Truist logo

Truist said Friday that Chief Financial Officer Daryl Bible will remain in the role as the company searches for his successor.

“Daryl has played an instrumental role in the success of our merger of equals,” Truist Chairman and CEO Bill Rogers said in a press release. “His leadership, commitment and expertise have greatly contributed to our success and purpose.”

A spokesperson for Truist, which is headquartered in Charlotte, North Carolina, did not say if the company has already begun a search or how long the search process may take to complete.

Bible came to BB&T from U.S. Bancorp, where he worked for 24 years, including 10 years as treasurer, according to his biography. He began his career in the management development program of Star Banc, a Cincinnati company that in 1998 acquired Firstar in Milwaukee, which later acquired U.S. Bancorp and adopted the U.S. Bancorp name.

Bible was one of four BB&T executives in line to receive a special bonus for remaining on the job through the company’s merger with SunTrust. Bible’s bonus was $3.1 million, according to a regulatory filing.

For 2021, Bible’s total compensation package was worth about $8 million, the bank’s latest proxy statement shows.

Source: americanbanker.com

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