Allison Robinson, head of Truist Financial’s branch and premier banking, is leaving the Charlotte-based company.
Robinson is ending her 21-year career at Truist to “explore another opportunity,’’ Donta L. Wilson chief consumer and small business banking officer, told colleagues in a memo. Robinson reported to Wilson, who didn’t provide specifics about where she’s going. She had been in her current position since November 2023.
The executive is leaving as Truist is focusing on growth opportunities in its core businesses while maintaining tight cost controls, CEO Bill Rogers said during the company’s second-quarter earnings call last month. The bank reported profit of $826 million, or 62 cents a share, compared with $1.23 billion, or 92 cents, a year earlier.
The company benefited from a $6.9 billion gain from the sale of its Truist Insurance brokerage business, while it reported $6.7 billion in securities losses as it repositioned its balance sheet.
Truist emerged as the nation’s sixth-largest bank in 2019 from the merger of Winston-Salem’s BB&T and Atlanta-based SunTrust.
Combining the institutions has taken longer than executives had expected, due to what analysts blamed as unfulfilled pledges for increased growth and cost-cutting.
The stock price has declined since the merger. The shares are little changed today, down 7 cents to $44.15 in midmorning trading Tuesday, Aug. 27.
For decades, BB&T eschewed combining with a rival bank, unlike larger N.C. peers First Union, Wachovia and Bank of America. Instead, BB&T took an independent track, expanding beyond its eastern North Carolina roots with a focus on community banking and small and mid-sized businesses.
In his memo, Wilson announced two interim appointments in the wake of Robinson’s departure. Scott Stearsman, head of small business banking, will serve as interim leader of the branch and premier banking team, while Eric Lewis will serve as interim leader of small business banking. He’s currently director of the small business segment.
Robinson joined what was then-BB&T in 2003 through the bank’s leadership development program. She held numerous leadership roles across a variety of business lines including mortgage, marketing, commercial and retail.
