Hearing rumors here in Charlotte that Bill is in high level talks with ScotiaBank. Would line up with sale of insurance business since a Canadian bank would need to divest. Also makes sense for technology going to Accenture since it’s just a merger expense and contract buyout. Lots of Canadians go to Southeast in winter and footprint aligns and their new CEO is on record saying he wants to make a deal and get in the US. When should we expect an announcement?
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Pieces are lining up. Big retention bonuses for a couple execs. That is a giant chunk of cheese to keep a few big rats from fleeing the sinking ship. Maybe scotia. Maybe someone else. Bill running same playbook he used at Suntrust. He was 99% there for a deal of equals with regions around 2014 when it fell apart last second for unknown reasons. Maybe he insisted on staying as ceo like he did here?
Every employee at most banks - and most companies for that matter - should be concerned when the CEO is in their mid-60s and there is no announced succession plan.
Even with a plan, there is too much temptation to sell the company (and sell out the employees) for a 'well-deserved' boost in their personal retirement.
Bill was recently asked (Bernstein?) if they were working on a succession plan. Bill said they talk about it every day. Do you need to discuss a succession plan every day? Why not create one and move on??
Bill has sold off most of the non-core banking parts of BBT, even if profitable, including TIH. There seems little concern for customers and deposits leaving while peers are gaining. No acquisition push for a smaller bank to boost deposit levels from Bill on earnings calls. There is little concern about employees leaving or retaining top talent. Outsourcing increasing with concern only about cost, not quality. $5B in share buybacks (after Mayo suggested) after a $6B+ loss on security sales and a $6B+ 'goodwill impairment' that was never really explained. And a secret cyber event that was only admitted to after it hit the media.
Is that Bill working toward an eventual sale within 2-3 years? Bill just running Truist like he did SunTrust? Bill dreaming to be a mini-JPM? Time will tell. Who knows what the consultant sc--w ups are selling execs these days.
So Scotia, who just had another outage hours ago on payday for customers, would be interested in a bank who has outages just as much 🧐
Haha, I heard that the Earth may be flat. Some hBBnT bankers are so simple minded. Just leave and join Tobacco Credit Union or stay there if you’re already there.
@xun+1ueRmucV Totally right. This same post has appeared twice in the last year except the bank was US Bank. This board gets sc--wed up by liars and whiners.
@xun+1ueRmucV I mean a 14.9% stake in KEY is a drop in the bucket for Scotia. It’s not like that is gonna make or break them acquiring TFC.
Yes it would seem odd if they were also talking to TFC had they just acquired KEY in it’s entirely. But even then key is quite small in comparison. And a 14.9% stake in KEY is very small in comparison.
So let’s make sure we got this
ScotiaBank announced they are taking a stake in KeyBank
When transactions occur pretty people may talk about them - like hey what was Key thinking what can we learn from a competitor move
Now let’s keep this logic going scotia is so hungry as soon as they announce a key deal they quickly call Bill to do a deal with him
This is exactly why the routine posting of illogical stuff undermines the story line on board
Must not be well connected or just love making stuff up
what an unneeded train wreck if this happened....
Do they hire based on DUI policy?
No way to keep something like this quiet. If any fire with this smoke it will be leaked.
@dan+1ueRmucV Scotia has way higher revenue than TFC what are you talking about lol smh
Buy truisy buy key nice little franchisr
They have 1.4 trillion in total assets so they could certainly buy SunTruist. They recently acquired 15% of Key bank. Bill could walk away with 50 to 100 million so yes this is not impossible. Not sure if the Feds would be onboard with it in current political climate where it is quite possible Dems will have control of all three branches of government.
So a bank with less revenue is going to buy us?