Truist names outsider as new CEO. The executive had a key role at Bank of America
Truist bank named a new president and CEO Monday: Michael Lyons, effective Sept. 1. He will replace Bill Rogers, who will become executive chair when Lyons takes over as part of Truist’s leadership succession strategy.
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Rogers will serve as executive chair until his planned retirement in April 2027. Lyons, a former PNC executive with over three decades of financial services experience, will become just the third CEO in Truist history.
The Charlotte-based bank said Lyons “has a proven track record of driving growth and competitive innovation in the banking industry.”
Truist is one of Charlotte’s Big 3 banks, along with Bank of America and Wells Fargo. Truist employees more than 3,000 workers are in the Charlotte area, part of around 40,000 people companywide.
Rogers expressed confidence in Lyons to move Truist forward with “purpose and care, and a sense of urgency to realize our potential.
“It has been the professional privilege of my lifetime to lead Truist and to work alongside truly extraordinary team,” Rogers said.
Lyons previously served as president of The PNC Financial Services Group, where he led all of PNC’s lines of business.
He worked there for 13 years and earlier worked as global head of corporate development, strategic planning, investor relations and private equity at Bank of America.
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“I couldn’t be more excited to join the bank as CEO to apply my leadership experience and vision to drive the next phase of Truist’s growth, cementing its position as a bank of choice for clients and creating value in the communities we serve,” Lyons said in statement Monday. “I also want to express my gratitude to Bill for the company and culture he has built.”
Truist was formed in December 2019 with the $66 billion merger of BB&T based in Winston-Salem and SunTrust Banks in Atlanta. The bank chose Charlotte for its new headquarters.
Rogers, who was formerly SunTrust’s CEO, became Truist’s second CEO in September 2021. Kelly King, a former BB&T CEO, stepped down but remained chairman of the board. The switch was not a surprise as the two leaders had agreed on the arrangement while negotiating the merger, The Charlotte Observer reported at the time.
By 2022, Truist opened its first branch in uptown Charlotte in the same building as its headquarters at 214 N. Tryon St., and converted existing SunTrust and BB&T branches to Truist.
As part of Truist’s restructuring, the bank began expanding its commercial and corporate banking sectors this summer with several new hires and employee appointments.
Truist has over 1,900 bank branches in 17 states, primarily in the Southeast as well as in Indiana, Maryland, New Jersey, Ohio and Pennsylvania.
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This is a developing story
This story was originally published June 15, 2026 at 8:25 AM.
