Truist names West Florida regional president, local market presidents

Truist Financial Corp. (NYSE: TFC), the company created by the merger of BB&T Corp. and SunTrust Banks Inc., today named 24  regional presidents to lead community banking in high-growth markets.

The West Florida region, with its headquarters in Tampa, will be led by Jim Daly, who has been West Florida regional president for BB&T since 2017.

Tim Schar, Tampa Bay market president, SunTrust

Tim Schar, who has been SunTrust’s Tampa market president, will stay on in a key leadership role and will be the market president for Tampa. The St. Petersburg market president will be Marcus Greene and the Clearwater market president will be Jeff Lampasso, both from BB&T, a spokeswoman said.

With the merger, Truist became the No. 2 retail bank in the Tampa-St. Petersburg-Clearwater metropolitan area, second only to Bank of America (NYSE: BAC). BB&T and SunTrust combined had 112 offices and $11.3 billion in deposits in the metro area as of June 30, 2019, according to the most recent data available from the Federal Deposit Insurance Corp. They had a combined deposit market share of 12.98 percent, compared to 15.23 percent for Bank of America, the FDIC data indicates.

Daly is a veteran banker who has served in various leadership positions at BB&T including commercial banker, corporate banker and city executive in Greensboro, North Carolina, and an area executive in Durham, North Carolina. He was named Hampton Roads regional president in 2002, Peninsula regional president in 2003 following the acquisition of First Virginia Banks Inc., and North Florida regional president in 2004. He was named Community Banking group executive in 2010 and West Florida regional president in 2017.

In his new role as West Florida regional president for Truist, he is the company’s senior leader in the market, responsible for delivering the full complement of the company’s services to clients in the area and directing the commercial business.

While there’s a revamped leadership team in place, little else has changed. Systems will be integrated over the next two years.

For now, customers will continue to be served through their respective BB&T or SunTrust branches, websites, mobile apps, financial advisors and relationship managers.

However, customers can use both BB&T and SunTrust ATMs to make withdrawals without incurring out-of-network fees.

There will be no merger-related changes to account numbers or routing numbers for checking, savings and money market accounts for most customers, so they won’t need to order new checks or make changes to direct deposits, automatic drafts or wire instructions related to these accounts, the bank said.