Truist COO and vice chair Beau Cummins resigns with immediate effect
Beau Cummins has resigned from his position as vice chair and COO of Truist Financial Corporation with immediate effect.

Beau Cummins resigns from Truist (Image: LinkedIn)
In an 8-K filing made with the US Securities and Exchange Commission (SEC) on Monday, the Charlotte-headquartered bank said Cummins’ resignation “results from material changes to his responsibilities by Truist following completion of several strategic initiatives in which Mr Cummins played a key role”.
These initiatives include the sale of Truist Insurance Holdings LLC in May and “the development of Truist’s strategic direction after that transaction”, the filing says.
Cummins previously served as co-COO and wholesale segment executive at SunTrust prior to its merger with BB&T Corporation in 2019 to form Truist. He was appointed to the role of head of corporate and institutional group following the merger and served as the bank’s vice chair from 2021 and COO from 2023.
Following his departure, management of Truist’s enterprise payments business will transition to Kristin Lesher, the bank’s senior EVP and chief wholesale banking officer.
His remaining responsibilities, which include leading teams responsible for enterprise operational services; enterprise corporate services; the strategy, transformation and performance office; and the governance and controls organisation, will be reassigned to Truist CFO and senior EVP, Michael Maguire.
In a LinkedIn post confirming his resignation, Cummins comments: “During my time at Truist, my goal was always to lead talented teams to achieve results that exceed expectations.
“The highlight for me has always been the great people I worked with, both teammates and clients. Thank you for inspiring me, challenging me, and helping me grow.”
In a statement sent to FinTech Futures, a Truist spokesperson describes the outgoing exec as “an instrumental leader”, noting his efforts in overseeing Truist’s corporate and investment banking, business banking and enterprise operations.
“He played a crucial and formative role in the merger of equals to create Truist, the successful sale of Truist Insurance Holdings and more recently, our recent $725 million commitment—Truist Cares for Western North Carolina—a dedicated capital and community support program to assist small business, housing and infrastructure rebuilding and resiliency efforts for communities devastated by Hurricane Helene,” the spokesperson says.