Truist Financial Corporation (TFC, Financial) has announced a significant leadership change effective November 13, 2024. Brad Bender, who has been serving as the Head of Enterprise Operational Services and interim Chief Information Officer, has been appointed as the new Chief Risk Officer. This appointment follows the decision of Clarke R. Starnes III to retire from his position as Chief Risk Officer and Vice Chair.
Mr. Starnes will continue to contribute to Truist in a transitional role as Senior Advisor until April 30, 2025. During this period, he will maintain his current base salary and remain eligible for the annual cash incentive-compensation award for 2024. Upon completing his service as Senior Advisor, Mr. Starnes will receive benefits under Truist’s Amended and Restated Management Change of Control, Severance and Noncompetition Plan, as previously disclosed in the company's proxy statement for the 2024 annual meeting.
This leadership transition is part of Truist's strategic efforts to ensure a seamless changeover and continued focus on risk management. The company has expressed confidence in Mr. Bender's capabilities to lead the risk management division, given his extensive experience and previous roles within the organization.
Should you invest in Truist Financial Corp (TFC, Financial) right now? Before you do it, it’s important to understand the business profitability and stock valuations, and find out what the warning signs are about. See the in-depth Truist Financial Corp (TFC) stock research here.
