Truist Financial Corporation (NYSE: TFC) has named Michael P. Lyons as its next president and chief executive officer, effective September 1, 2026. Lyons succeeds Bill Rogers, bringing over three decades of financial services experience to the role. The leadership change aims to leverage Lyons' track record of driving growth and competitive innovation in the banking industry.

Leadership Transition

Lyons is a dynamic leader with a proven history in the financial services sector. His appointment follows the tenure of Bill Rogers, who served as the chief executive officer. The transition is scheduled to take effect at the beginning of September 2026.

Key Details

The board of directors at Truist Financial Corporation approved the appointment, marking a significant shift in the company's executive leadership structure.

Truist Financial Corporation announced the appointment of Catherine Bessant to its board of directors, effective June 8, 2026. Bessant will serve on the board's risk committee, bringing over four decades of experience in financial services, technology, and operations. The appointment strengthens the board's expertise in digital transformation and global strategy.

Truist Chairman and CEO Bill Rogers highlighted Bessant's track record in purpose-driven leadership and operational transformation. He emphasized that her experience will benefit the company, its teammates, clients, and stakeholders. Bessant most recently served as CEO of Foundation For The Carolinas, one of the largest community foundations in the U.S.

Bessant retired from Bank of America as vice chair of global strategy and a member of the executive management team. She previously served as chief operations and technology officer, leading business continuity and information security strategies. Her career included senior leadership roles in global corporate banking, treasury services, and consumer real estate.

In addition to her role at Truist, Bessant serves on the board of Zurich Insurance Group and the advisory board of the University of Michigan Ross School of Business. She is the immediate past chair of the USA Field Hockey board of directors. Bessant was inducted into American Banker's "Most Powerful Women in Banking" Hall of Fame in 2020.

Truist Financial Corporation is a purpose-driven financial services company headquartered in Charlotte, North Carolina. As of March 31, 2026, the company reported total assets of $549 billion. Truist offers a range of products and services, including consumer and commercial banking, wealth management, and specialized lending.