Truist Financial said Michael P. Lyons will become president and chief executive officer on Sept. 1, 2026, replacing Bill Rogers, who will move into the executive chair role that same day and remain there until his planned retirement in April 2027.
Lyons comes to Truist after serving as chief executive of Fiserv, a financial technology and payments company serving more than 6 million merchants and 10,000 financial institutions. Before that, he spent more than 13 years at PNC Financial Services Group, where he was president and oversaw all of the company’s lines of business. During that period, he helped steer more than $15 billion in strategic acquisitions and the expansion of PNC’s geographic footprint.
Truist did not disclose any change in the bank’s financial results in the announcement, but it did note the scale of the franchise it is handing over to Lyons: the company reported total assets of $549 billion as of March 31, 2026, and described itself as a top 10 commercial bank.
The leadership transition spans about seven months from Lyons’ start date to Rogers’ retirement in April 2027. As a result of these announcements, the company's shares have moved -5.53% on the market, and are now trading at a price of $48.805. For more information, read the company's full 8-K submission here.
