CHARLOTTE, N.C., Dec. 13, 2023 /PRNewswire/ -- Truist Financial Corporation (NYSE:TFC) today announced that Scott A. Stengel will join the company on December 26, 2023, as senior executive vice president and chief legal officer, succeeding Ellen M. Fitzsimmons who previously announced her plans to retire at the end of this year following a distinguished career. Stengel will report to Truist Chairman and CEO Bill Rogers, serve as corporate secretary to the Truist Board of Directors and become a member of the bank's operating council. He'll be based in Charlotte, at the Truist corporate headquarters, where he'll oversee all legal affairs and government relations.

"We're pleased to welcome Scott Stengel to Truist to guide our legal affairs and government relations strategy at a critical time of rapid change in the industry," said Rogers. "Scott is an entrepreneurial leader with deep financial services legal experience spanning corporate governance, compliance, digital innovation, cybersecurity, government relations and risk management, and he possesses the right growth-oriented mindset to navigate industry headwinds while helping fulfill our purpose of inspiring and building better lives and communities."

Stengel previously served as general counsel of Ally Financial since 2016, where he was responsible for the legal affairs, corporate secretary and government relations functions. Prior to that, he served as general counsel for UMB Financial Corporation, and as a partner at King & Spalding LLP and Orrick, Herrington & Sutcliffe LLP in Washington, D.C., with practices focused on global banking, capital markets and government relations.

He received a bachelor's degree in economics, with highest honors, from the University of Notre Dame and a juris doctorate, graduating magna cum laude, from the Notre Dame Law School. Stengel is a member of the advisory board of the U.S. Chamber Litigation Center and a member of the Leadership Council on Legal Diversity.

"In her six years at Truist, Ellen Fitzsimmons' exceptional, purpose-driven actions and leadership have left a positive, indelible mark on Truist, our clients, teammates, communities and stakeholders," Rogers said. "We wish her the very best in her well-deserved retirement and congratulate her on a storied career."

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $543 billion as of September 30, 2023. Truist Bank, Member FDIC. Learn more at Truist.com.

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SOURCE Truist Financial Corporation