Truist named former Morgan Stanley Chief Operating Officer Jon Pruzan to its board. He is now co-president of Pretium, a specialized investment firm focused on U.S. residential real estate, residential credit and corporate credit with $60 billion of assets under management.
“In addition to decades of industry leadership, he brings broad knowledge of technology, operations, finance and corporate strategy, and a wealth of experience advising financial institutions that will benefit Truist, our purpose and strategic direction,” Truist CEO Bill Rogers said in a release.
Pruzan spent nearly 30 years at Morgan Stanley (1994-2023). He was a member of the firm’s operating, management and risk committees and chair of the enterprise regulatory oversight committee. He was chief financial officer from 2015 to 2021. He started his career at PaineWebber in 1990.
Pretium is the largest institutional owner of single-family homes with about 97,000 rental properties, according to resiclubanalytics.com. That includes 5,263 properties in the Charlotte area.
Truist is among the 10 largest U.S. commercial banks. While headquartered in Charlotte, its only North Carolina-based directors on its 13-member board are Rogers and Tom Skains, former CEO of Piedmont Natural Gas.
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