Restructuring efforts by Truist highlighted through seven key staff changes

In the ever-evolving world of banking, change is the only constant. This is evident in the recent shake-up of key positions at Truist, a leading financial institution, and its competitors, as they adapt to the digital age.

Sherry Graziano, who previously headed digital banking at Truist, has taken on a new role as the bank's marketing chief. Her appointment follows the departure of Vinoo Vijay, who held the position of Chief Marketing Officer but has since moved to California. Graziano assumed her new role in April 2023, succeeding Vijay.

Meanwhile, the deposits unit at Truist is receiving a boost in its role, with Jon Ambler overseeing the team's elevated position within the consumer and small business banking division. Allison Robinson, the head of community branch banking and emerging markets at Truist, is now responsible for premier banking, marking another significant shift in the bank's leadership.

David Smith, who joined Truist as head of mortgage in July, has taken on a broader role, assuming all of consumer lending. These changes come as part of Truist's restructuring plan, announced in early October, aiming to save $750 million over the next 18 months.

The bank is not alone in these changes. Wells Fargo, another major player in the industry, is undergoing a digital transformation, with the work led by the Enterprise Functions Technology team being critical to their progress. Steve Hagerman, Wells Fargo's CIO of consumer technology, is excited to welcome Ken Meyer to the bank, who has left Truist to join Wells Fargo as CIO of enterprise functions technology.

Wells Fargo is not the only competitor benefiting from talent windfalls. U.S. Bank is also gaining Chris Brogden, who was Truist's head of corporate real estate for security and aviation, as head of corporate real estate.

Bank of America, too, has seen changes, hiring the CMO of Citi's consumer-banking unit two weeks after announcing the retirement of their CMO position.

The banking industry is seeing a wave of disruption, with varied opinions on the best approach. As many schools of thought exist as there are disruptors. This is evident in the recent changes at Truist and other banks, as they navigate the digital transformation and strive to stay competitive.

In other news from Truist, the gamified finance app Long Game, which the bank bought in May 2022, has seen changes in leadership. The co-founder and CEO, Lindsay Holden, is no longer working at Truist. Additionally, The Foundry, a unit launched by Truist in October 2022, has been folded into a broader innovation initiative.

These changes reflect the dynamic nature of the banking industry and the ongoing efforts to adapt to the digital age. As banks continue to evolve, customers can expect to see more innovative services and products in the future.