Truist Mortgage HQ to be based in Greensboro following BB&T, Suntrust merger. (Charlotte: move to)

[YinXyang]

After much speculation we finally have a confirmation from SunTrust themselves.

The desicion from SunTrust to base the mortgage HQ in Greensboro was based apparently on Greensboros Central location between Virginia, South Carolina and it's close proximity to Charlotte.

From Suntrust CEO, William H Rogers Jr:



https://richmondbizsense.com/2019/05...part-bbt-deal/


I do wonder what SunTrust meant By lasting ripple effect...

Thoughts?

[Edward Teach]

Originally Posted by GSOCitizen

After much speculation we finally have a confirmation from SunTrust themselves.

It was confirmed weeks ago; not speculated upon. From the TBJ last month:

"A SunTrust spokesperson confirmed to Triad Business Journal that its mortgage leadership team in Richmond will move to Greensboro."

Originally Posted by GSOCitizen

I do wonder what SunTrust meant By lasting ripple effect...

Just read the article you linked to...for Richmond it mentions branches may consolidated, deposits sold off, the question of what may happen to BB&T Scott & Stringfellow (headquartered in Richmond), and investment banking arm BB&T Capital Markets (also hq'd in Richmond). Both banks have their names on downtown buildings too, so that may change.

[YinXyang]

Originally Posted by Edward Teach

It was confirmed weeks ago; not speculated upon. From the TBJ last month:

"A SunTrust spokesperson confirmed to Triad Business Journal that its mortgage leadership team in Richmond will move to Greensboro."




Just read the article you linked to...for Richmond it mentions branches may consolidated, deposits sold off, the question of what may happen to BB&T Scott & Stringfellow (headquartered in Richmond), and investment banking arm BB&T Capital Markets (also hq'd in Richmond). Both banks have their names on downtown buildings too, so that may change.

thank you for breaking that down.