Pinnacle Points to Hiring Surge as Proof Synovus Merger Is Working

Pinnacle Financial Partners and Synovus Financial completed a merger of equals aimed at expanding their regional banking footprint and combining talent and client resources. Investors had initially worried that the deal could lead to staff departures, making banker retention and recruitment key tests of the integration strategy.

In the first quarter after the merger, Pinnacle added a net 50 bankers and set plans to recruit more than 500 employees over the next two years. CEO Kevin Blair said the steady hiring momentum showed the merger strategy was working and countered concerns that team members could leave in large numbers. The available information did not disclose recruitment spending.