A name has been selected for the proposed combined bank of BB&T Corporation (NYSE:BBT) and Sun Trust Banks, Inc. (NYSE:STI) – Truist Bank.
Announced Feb. 7, the merger of equals is expect to be completed by the end of the year – creating the sixth-largest U.S. bank holding company serving more than 10 million households in the U.S.
“With the merger of equals, our goal is to create a bold, transformative organization that delivers a smarter and easier client experience through technology and human connection,” said BB&T Chairman and CEO Kelly King, who will serve as chairman and CEO of the combined company. “True to the heritage of both companies, Truist will reflect what we stand for – a shared belief in building a better future for our clients and communities.”
The banks partnered with Interbrand, a global brand consultancy, to develop the new name for the combined bank.
Dontá Wilson, BB&T’s chief digital, client experience and marketing officer, told Triad Business Journal the process of picking a new name was driven heavily by data derived from employee and client input.
“Truist allows us to convey the message that we will remain true to our legacies,” said Wilson, who led internal efforts to develop the name. “Both brands have established a good reputation of trust.”
The brand logo, typography and visual identity will be revealed at a later date.
The holding company will be known as Truist Financial Corp. and the combined bank will be Truist Bank.
The new names will be effective upon completion of the merger, but clients will still be served under the BB&T and SunTrust brands post-merger until both brands are transitioned to the complete Truist experience.
Source:: Daily times