Truist Financial has named Fiserv chief executive Michael P. Lyons as its next President and Chief Executive Officer, effective 1 September 2026. Bill Rogers will move to the role of Executive Chair on Lyons' start date, before retiring in April 2027, the bank said.
The appointment brings to the top of Truist an executive with deep experience in both large-scale banking and payments technology, following a career that has moved between Bank of America, PNC and, most recently, Fiserv.
LYONS ARRIVES FROM FISERV
Lyons joins Truist from Fiserv, where he most recently served as chief executive of the NYSE-listed payments and financial services technology group. Fiserv provides account processing, card issuing and merchant acquiring services to banks and businesses globally, giving Lyons direct exposure to the infrastructure that underpins retail banking.
Before Fiserv, Lyons spent over 13 years as President of PNC Financial Services Group, one of the largest regional banks in the United States. In that role he oversaw a broad set of businesses spanning corporate banking, asset management and retail banking, giving him experience of running large, multi-business franchises inside a bank.
Earlier in his career, Lyons held roles at Bank of America in corporate development and strategic planning, work that typically involves shaping mergers, acquisitions and long-term positioning. That background sits alongside his more recent operational experience.
ROGERS TO STEP UP AS EXECUTIVE CHAIR
Bill Rogers, Truist's current Chairman and Chief Executive, will become Executive Chair on Lyons' start date and hold that role until his retirement in April 2027. The arrangement provides a transition period during which the incoming CEO can settle in while retaining access to Rogers' knowledge of the bank.
Rogers has led Truist since the completion of the merger of BB&T and SunTrust and has been closely associated with the integration and subsequent strategic repositioning of the combined bank. Handing the CEO role to an external candidate with a strong payments and technology background signals the board's view of the skills required to lead Truist through the next phase.
The board's choice of Lyons reflects a growing pattern of large US regional banks turning to leaders with a mix of banking and payments experience as digital channels and payments infrastructure become increasingly central to competitive positioning. Lyons' earlier work at Bank of America in corporate development and strategic planning adds a strand of merger and strategy experience to a background otherwise dominated by operational roles in banking and payments.
For Lyons, taking over Truist represents a step from running a technology provider back into the seat of a large US commercial bank, drawing on his earlier experience at PNC. Truist ranks among the largest US banks by assets and operates a franchise concentrated in the south-eastern United States.
The transition timetable gives the market several months to prepare for the change at the top, with detailed strategic priorities under the new CEO expected to be communicated once he takes up the role on 1 September 2026. Rogers' shift to Executive Chair on that same date, followed by his retirement in April 2027, provides an explicit end point to the handover and gives Lyons a defined window in which to work alongside his predecessor at board level before assuming full leadership.