Truist Names Former Fiserv CEO Michael Lyons as Its New Chief Executive

Truist Financial, one of the largest U.S. regional banks, is restructuring its operations and seeking to improve profitability. Its hiring of former Fiserv CEO Michael Lyons signals that the board is looking to his experience in payments technology and financial services to lead the bank’s strategic transformation and meet new profit targets.

Truist Financial said Lyons will formally take over as CEO on September 1, making the appointment the centerpiece of a reshuffle among the bank’s senior executives. Lyons’ unexpected departure from Fiserv has also drawn market attention. At Truist, he will immediately face the tasks of improving operating efficiency, advancing its digital strategy and delivering on profitability commitments.