We were told that we had to merge and to get tech upgraded, or we would die. The "disrupt or die" idea. Do you think Rogers ever intended to pursue that, or was he going along with it just to get the deal done.
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Kelly wanted a legacy deal, Bill wanted Power. Period.
Bill destroyed Suntrust and will do the same to Truist.
3 years later - is this a real question??
BB&T was a racist org (look up the settlement with the gov about loan discrimination in 09-10ish), behind the times in tech, some cr-ppy footprint, but run by people existing in reality, "Kelly the Blessed Mascot" aside, and compared to Truist ran a tight ship.
No direct experience with Suntrust aside from seeing many of their "services" absorbed without effort into BB&T process because there was nothing to absorb, but based on how their leadership slid into power and architected a perfect nose dive, that group is a Russian egg of clown cars that happened to be more cutthroat than Kelly's local yokel good ole boys.
I'm going to ride this paycheck until something better materializes, but 8-9 years ago I thought I'd be with this bank for 25 years. Things change, for the worse mostly.
Disrupt or Die has turned into Disrupt AND Die. Congrats Bill and Kelly for sc--wing everyone and creating indelible legacies that will be studied by future generations of bankers as to how NOT to merge organizations. Let all the institutional knowledge leave…it will be great…except when it isn’t. Here’s to the next $100MM Bill will get for selling to Chase and cementing the destruction of SunTruist.
Let’s ask open ended questions that have already been asked to a bunch of pi-s and moan associates and exassociates.
The main thing being disrupted and dying are jobs and branches. I guess if you look at it that way he's been good to his word.
To much evidence pointing to this being the plan all along.
The market taking this big dump will only embolden Bill and Beau to outsource more jobs and continue to shrink SunTruist in their markets. He is running this bigger bank entity the same way he did Suntrust and we all know how that turned out. The outcome here will be the same.
Bill is turning this bank into Suntrust 2.0. Any job that can be done cheaper overseas is going to be riffed.