Truist cancels participation in the BofA Securities Financial Services Conference

Rhea-AI Summary

Truist Financial Corporation (NYSE: TFC) has canceled its participation in the BofA Securities Financial Services Conference scheduled for February 16, 2023. This decision follows the announcement of an agreement to sell a minority stake in Truist Insurance Holdings, potentially shifting focus towards strategic asset management. The company's CFO, Mike Maguire, was slated to present at 8:50 a.m. ET.

Truist, headquartered in Charlotte, North Carolina, is a leading financial services firm with total assets valued at $555 billion as of December 31, 2022. The firm operates across various segments, including banking and wealth management.

Positive

• Strategic decision to sell a minority stake in Truist Insurance Holdings could enhance capital management.
• Maintains strong market share in high-growth segments.

Negative

• Cancellation of conference participation may indicate potential volatility or uncertainty in strategic plans.

CHARLOTTE, N.C., Feb. 16, 2023 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced the cancellation of its participation in the BofA Securities Financial Services Conference due to its announcement and conference call regarding its agreement to sell a minority stake in Truist Insurance Holdings.  Prior to this announcement, Chief Financial Officer Mike Maguire had been scheduled to present at the conference on Thursday, Feb. 16, 2023 at 8:50 a.m. ET.

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 $555 billion as of December 31, 2022. Truist Bank, Member FDIC. Learn more at Truist.com.

 

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SOURCE Truist Financial Corporation

FAQ

Why did Truist cancel its participation in the BofA Securities Financial Services Conference?

Truist Financial Corporation canceled its participation due to an announcement regarding the sale of a minority stake in Truist Insurance Holdings.

What was the scheduled date for Truist's presentation at the BofA Securities Conference?

Truist's presentation was scheduled for February 16, 2023, at 8:50 a.m. ET.

What is the total asset value of Truist Financial Corporation?

As of December 31, 2022, Truist Financial Corporation's total assets were valued at $555 billion.

What does Truist Financial Corporation specialize in?

Truist Financial Corporation specializes in a wide range of financial services including banking, wealth management, insurance, and specialized lending.