Bank / Credit Union

SunTrust Robinson Humphrey, BB&T Capital Markets become Truist Securities.

Photo provided by iStock

August 4, 2020

Truist Securities has transitioned SunTrust Robinson Humphrey and BB&T Capital Markets over to its corporate name, creating a combined corporate and investment banking business.

The combined entity offers a range of services, including mergers and acquisitions, capital markets for corporate clients, sales and trading, corporate finance and treasury management for mid-cap businesses with more than $500 million in revenue, according to a press release.

Truist Securities is keeping much of its corporate investment and wealth services in Atlanta, and SunTrust Robinson Humphrey, which was also headquartered in Atlanta, not only brought to Truist a strong capital markets operation, but also much of the management team.

The transition was done virtually through WebEx and conference calls, Truist Securities CEO John Gregg said in the release. The bank had planned to launch Truist Securities in June, but the coronavirus pandemic delayed the process.

Gregg said teams began preparing for the change last year. The business employs more than 1,400 and with the transition the company eliminated overlapping positions, particularly in sales and trading and asset finance.

"It's really fantastic work across the company," Gregg said in the release. "Our job is to make sure that (clients) understand that we have changed names, but that the focus, the attention, the way we do business, all of that is going to remain the same."

Truist was formed last December when BB&T Corp. and SunTrust Banks Inc. merged. It created the nation's sixth-largest bank, marking the largest bank merger since the financial crisis.