Truist Bank Emerges From Massive Southern Merger

(RTTNews) - The new entity resulting from the merger of BB&T Corp. and SunTrust Bank will be "Truist Bank."

The new name is a coinage using the words 'true' and 'trust.' The holding company picked up the name Truist Financial Corp. There were speculations that the combined bank will have a combination name of SunTrust and BB&T.

The merger of equals valued at $66 billion will be creating the sixth largest bank in the United States. The company will shortly release the logo and identity of the new brand. The integration is scheduled to close by the third quarter.

The companies have used the service of Interbrand for brand positioning and naming services. They also utilised employees panel to arrive at an attractive name.

Kelly King, Chairman and chief executive officer of BB&T will be the CEO and Chairman of Truist bank as well as its subsidiary, until September 12, 2021. He will serve as executive chairman through March 12, 2022.

Sun Trust CEO Bill Rogers will become president and chief operating officer as King steps down and will assume the office of the CEO.

Truist bank will be based in Charlotte, North Carolina. The operations from BB&T in Winston-Salem, North Carolina and Sun Trust's Atlanta will be continued.