Truist poaches commercial banking execs from rivals

June 27, 2025 2:24 PM

In this week's banking news roundup: Truist Financial is bulking up its commercial and corporate banking arm by hiring senior executives from rival banks as well as promoting from within; F.N.B. Corp announces a $46 million-dollar community development program aimed at Main Street revitalization; buy now/pay later lender Affirm extends a partnership with Moore Capital; and more.

Laura Chittick, Truist

Truist commercial bank hires senior execs from rivals

Truist said it is bulking up its commercial and corporate banking arm by hiring execs from rival banks as well as promoting from within. The blitz follows the Charlotte, North Carolina-based bank's hiring of Kerry Jessani from JPMorganChase to head the unit, announced in November, and the January promotion of Jim Pirouz to run corporate banking under her. Pirouz's new executives include Laura Chittick, who will come over from JPMorganChase in August to head health care, and Benjamin Wright, who will run industrials and services when he joins from Wells Fargo in July. The bank also promoted Truist veterans Rob Chesley and Evelyn Kudelski to be co-heads of the Financial Institutions Group. –Chana R. Schoenberger

FNB Financial Center in Pittsburgh’s Hill District.

Ed Massery/F.N.B. Corporation

F.N.B. Corp. pledges $46 million for Main Street revitalizations

F.N.B. Corp. in Pittsburgh launched a $46 million community development program focused on downtown revitalization in rural business districts and historic neighborhoods.

The F.N.B Main Street Revitalization Program includes more than $30 million in low-cost financing for small businesses, $15 million for the rehabilitation and renovation of certain F.N.B. branches and a $1 million contribution toward a small-business grant program administered by the Pittsburgh History & Landmark Foundation, the company said in a press release.

The program will begin in Greenville, Pennsylvania, where F.N.B.'s banking subsidiary First National Bank was founded in 1864, and include the renovation of the local bank branch.

The community development program is the first of its kind for the $49 billion-asset F.N.B., Vincent Delie, F.N.B. chairman and CEO, said in an email. The program combines grants from F.N.B's foundation with federal tax credit underwriting, community investment and a low-interest loans program to deliver more capital to business districts, he said. —Allissa Kline

Affirm expands forward flow deal with Moore Capital Management

Buy now/pay later lender Affirm has extended its forward flow partnership with Moore Capital Management through May 2027.

Moore Capital, through its private asset-backed finance platform Moore Specialty Credit, has been purchasing Affirm's short duration loans since 2017 and has invested nearly $5 million during the partnership, according to Affirm.

"Our deep relationship with Affirm has allowed us to see firsthand their differentiated approach to driving positive credit outcomes," said Erik Siegel, CIO of the Moore Specialty Credit Platform, in a statement. "We look forward to continuing to support Affirm as it continues to generate quality assets that deliver attractive risk-adjusted returns." —Joey Pizzolato

Fifth Third hires, promotes new leaders

Fifth Third has shaken up the leadership teams for its legal department and commercial banking division.

The Cincinnati, Ohio-based bank announced that Susan Zaunbrecher, who has served as chief legal officer and head of government and regulatory affairs since 2018, will retire. The bank has tapped longtime corporate banking lawyer Christian Gonzalez for the job, effective July 7. Gonzalez previously spent 15 years at law firm Disnmore and Shohl, where he advised banks on mergers and acquisitions. He'll also join Fifth Third's top leadership on the enterprise management team.

Fifth Third also announced that it would promote Kevin Lavender from executive vice president and head of the commercial bank to vice chair of the commercial bank, effective July 14, after more than five years in his current role. Kevin Khanna, who leads corporate and investment banking, will become head of the commercial bank.

Lavender will remain a member of the enterprise team. Fifth Third will promote Khanna, along with head of commercial payments Bridgit Chayt, to the enterprise team. —Catherine Leffert

Citizens hires New York City wealth team from Flagstar Bank

Citizens brought on a new wealth advisory team in New York City as it continues to expand its wealth and private banking services across the country.

The Providence, Rhode Island-based bank brought on the team, which previously managed nearly $1.5 billion in client assets, from Flagstar Bank. The move also builds on Citizens' growth in the New York City area, after entering the region three years ago through the acquisitions of HSBC's 80 east coast branches and Investors Bancorp, a community bank in New Jersey.

Earlier this year, Citizens brought on a private wealth team in Northern New Jersey from JPMorganChase that had previously managed $700 million in assets.

Citizens' latest wealth advisory team will be led by Daniel Menton, Adam Waldman and Vincenzo Iannucci, who will also partner with the company's commercial banking and private bank divisions. Citizens launched its private bank in 2023, and recently opened its first New York office for the unit, after planting offices in Boston, Florida and California. —Catherine Leffert