Any truth in this? I've heard multiple rumors that PNC is buying us. We are cutting expenses big time for a couple years now at anything middle market or under level. Something is in works but I am unsure if these rumors have any validity to them. Weird times we live in.
8 replies (most recent on top)
Let me guess. You wrote the same post a couple of times about US Bank
Yes there is a source
Source: Trust me, bro
That's exactly why I left. Anything Middle Market and under was clearly cooked (and shrinking fast). My mental health is much happier as a result. I no longer feel like a chump working for a completely hypocritical company.
@ya that’s exactly what I would do. Sell the investment bank and the brokerage arm to firms that need them, and the commercial retail franchise to…. You guessed it….. Huntington. Insurance already gone, credit card can be absorbed by whatever is in your wallet, and EL gets their photo in Harvard Review next to “failing upward” case study.
Highly unlikely. Can you imagine what that would do to the acquiring bank’s stock price? It would likely drop it by 50% to 60% the instance it was announced.
It’s more likely that Truist will be sold off a piece at a time to temporarily boost income and at the point when there isn’t much remaining, it will merge with another smaller bank.
Face it, the merger was a disaster and the company will never recover. I was fortunate enough to get out about 12 months ago to another bank. I won’t call us a competing bank because in Truist’s current state, it’s no competition at all. So, Truist leadership, please stay on course, business is great and we love banking your former customers and clients!
BTW, there are still a lot of great people who remain at Truist, and you do have my sympathy.
This has ZERO chance of happening. SunTruist may indeed be bought by another bank in the future but it won’t be PNC. This would be no more than another MOE and there are no more Kelly Kings in the banking industry d-mb enough to be su-kered by Bill and this current BOD!
@OP It is possible, just know that any deal will only be so that Bill and his minions can continue to do what they do without having to answer for it to Stakeholders, it will be the purchaser's problem then. Too many are aware of what went on pre and during MOE, idk if they are arrogant enough to try it again.
Try this: https://www.thelayoff.com/t/1vC3DU8c