TIS just lost two of their top 15 producers. TIS actually thinks that no one will leave. LOL
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One of them had a book of ex-BB&T execs that retire at the coast. Guarantee they will move their relationships
As I put on here before ( and was deleted ??) these guys that left aren’t going to move much they totally depended on internal partners, all of them still around. They are, as was mentioned below in another comment, clowns. That’s the nicest thing you could say about them.
They arent bankers knob
Well, bankers I know at competitors are not having to solicit much or at all to obtain Truist clients. SunTruist is doing a fine job at helping clients move their banking business elsewhere.
Industry average is 70% and the wealth advisors have a non-solicitation agreement. Also, 70% is for wires. This is a bank. Subtract 25% from that.
Always love when someone talks about something they know nothing about. Yes, it was Wilmington, NC, but they will move 80-90% for two reasons. 1. That is industry average. 2. Clients HATE Truist and what was done to BB&T
Wilmington clowns. No loss and good luck moving clients.
https://www.investmentnews.com/da-davidson-picks-up-1b-aum-team-from-truist-for-new-office-244789
Honestly, looking at the bank’s performance in relation to what other banks was for the quarter I think it’s more mediocre than anything else. This includes wealth. It’s a heck of a thing ti give yourselves a pay raise when your performance is mediocre, and then give your employees nothing. All of the other big banks are firing people. I think, in general, the “reorganization” has been handled poorly, but like I sai, it’s what you expect out of a mediocre group
I agree. Joe Thompson in Wealth is the poster child for Truist’s struggles. Instead of executive management considering for one second one of their own is terribly incompetent, the default is to blame the employees. Sadly, the very ones trying to hold the mess Joe has created together.
The exodus continues among anyone associated with Wealth. The laid off several, beginning with Ralph Borrello’s “retirement “, but far more leaving on their own. It’s their inexpensive way to cut costs. Plus since the merger, Joe Thompson has alienated virtually everyone (except the Investment Bankers, of which he’s one). Never has their been a more tone deaf, arrogant leader.
It’s called Truist Investment Services. We were a merger of SunTrust’s failed wealth management unit with Scott & Stringfellow which grew year over year.
Yes Bill and his gang are too arrogant in their belief that everyone will stay. Soon only people left will be the ones with little skills and no clientele. You can certainly be sure they didn’t believe their newly appointed NC West leader would jump ship two months after being given the job.
When will the systems come back up? Entire bank is down?
What……?
Maybe Truist Insurance Services?
Who?