Summary
Truist Financial Corporation (TFC) announced a key leadership change via an 8-K filing, appointing Michael B. Maguire as its new Chief Financial Officer (CFO), effective September 15, 2022. This appointment follows the planned retirement of Daryl N. Bible. Mr. Maguire brings extensive experience within Truist, having previously held significant roles including Chief Consumer Finance and Payments Officer and leading enterprise partnerships. His background also includes a substantial tenure in investment banking. The company's Compensation and Human Capital Committee is set to review Mr. Maguire's compensation in light of his new responsibilities. This transition marks a significant step in Truist's executive team composition, with the board opting for an internal candidate with deep knowledge of the company's operations and strategic initiatives.
Key Highlights
- 1Michael B. Maguire appointed as the new Chief Financial Officer (CFO) of Truist Financial Corporation, effective September 15, 2022.
- 2Mr. Maguire succeeds Daryl N. Bible, who is retiring after the transition.
- 3Maguire has a strong internal track record, previously serving as Chief Consumer Finance and Payments Officer.
- 4His prior experience includes leading enterprise partnerships and investments in FinTech.
- 5He also has a significant background in investment banking, having spent 16 years at Truist Securities.
- 6Maguire's compensation package will be reviewed and potentially adjusted by the Compensation and Human Capital Committee.