The North Carolina bank agreed to offload Sterling Capital Management to Guardian Capital Group in Toronto. It's the latest step in the effort to simplify Truist.

In this month's roundup of top banking news: Truist Financial announces plans to shutter 4% of its branch network, Fiserv pursues a special-purpose bank charter, Wells Fargo distributes a $1,000 bonus to lower-paid employees and more.

Williams, who died this week at age 90, was CEO of SunTrust — one of the banks that would become Truist — for many years. He also served on the boards of several organizations in Atlanta, including Coca-Cola.

Financial institutions, led by the biggest U.S. banks and regional lenders, have dominated high-grade issuance, making up over 60% of the $149 billion that has priced so far this month.

Despite a surge in quarterly expenses in the fourth quarter and a projected uptick in the first quarter, the North Carolina company is standing by its expense guidance for 2024.

The North Carolina-based company said it expects to close about 4% of its branch network, or roughly 80 offices, by the end of the first quarter. The closures come amid Truist's $750 million cost-cutting initiative.

Banks large and small are selling some or all of their insurance subsidiaries, enticed by the high prices they're being offered. Here's a rundown of the deals that were struck in 2023.

Across the industry, the pace of branch shutdowns slowed this year. Still, large financial institutions continued to trim their physical footprints, with two super-regional banks taking the most aggressive actions.

Scott Stengel, who has been Ally's general counsel since 2016, will succeed Ellen Fitzsimmons, who is retiring after four years as head of legal affairs at Truist.

U.S. Bancorp and Truist picked literal names for their virtual assistants to avoid confusing customers, while Fifth Third and Regions created characters called "Jeanie" and "Reggie" to put clients at ease. Other companies are trying to split the difference.

The Truist Leadership Institute is part of a growing corporate leadership-training industry that says it's focused on creating more empathetic leaders. But critics decry the institute's blurring of personal and professional boundaries, and question its scientific backing.

Executives of the regional bank say they are zeroing in on its most profitable business lines and moving away from one-off customer relationships that don't generate as much revenue.

The regional bank is taking its core transformation slow and steady, starting with deposits, according to Jay Poole, head of consumer products technology.

First Citizens, JPMorgan Chase and New York Community Bancorp all bought failing banks in 2023. Here's what experts say they and other acquirers should do to ensure the tech integration is smooth.

The Charlotte, North Carolina, company plans to fold the online consumer lending platform LightStream into its broader consumer business. On top of a recent pullback in bond trading, it may also make further reductions in its mortgage business and occupied real estate.

After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.

Big banks are aiming to bring their existing technologists up to speed with cloud certification and other modern architecture training.