Truist names Charles Alston head of its new Nonprofit Hospitals, Higher Ed and Government banking team

Rhea-AI Summary

Truist Financial Corporation (NYSE: TFC) has appointed Charles Alston to lead its newly formed Nonprofit Hospitals, Higher Education and Government (HHG) banking team. The HHG team, part of Truist Specialized Industries, serves over 1,000 clients including nonprofit hospitals, colleges, universities, and government entities, offering services in public finance, trading, payments, credit, and cash management. Alston brings over 30 years of financial services experience, with 20 years focused on hospitals, higher education, and nonprofits. Previously, he served as market executive for Bank of America's Healthcare, Higher Education, and Not-for-Profit business in the Southeast. He holds a business administration degree from UNC Chapel Hill and will be based in Jacksonville, Florida, reporting to Jason Cagle, head of Specialized Industries.

Positive

• Appointment of experienced leader with 30+ years in financial services and 20 years specifically in relevant sectors
• Serves large client base of over 1,000 institutional clients
• Comprehensive service offering including public finance, trading, payments, credit and cash management

Negative

• None.

CHARLOTTE, N.C., June 16, 2025 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced it has hired Charles Alston as head of its new Nonprofit Hospitals, Higher Education and Government (HHG) banking team to drive focused growth and deepen client relationships.

As part of the Truist Specialized Industries team within the expanded Commercial and Corporate Banking business, HHG serves more than 1,000 clients that includes nonprofit hospitals, colleges and universities, and municipal and government entities. The team offers tailored strategic advice and delivers holistic financial solutions to meet the complex needs of these clients, including public finance and trading, payments, credit and cash management.

"Charles is a proven leader with a deep knowledge of these sectors, and he has a strong record of building successful teams known for innovation and caring for clients," said Jason Cagle, head of Specialized Industries at Truist. "The HHG team is new in name only as we've been serving nonprofit and government clients for decades. We are confident Charles will lead this new focused and dedicated team to accelerate growth across the country."

Alston has more than three decades of financial services experience with 20 years dedicated to leading coverage of hospitals, higher education, and nonprofits. Most recently Alston served as the market executive for Bank of America's Healthcare, Higher Education, and Not-for-Profit business covering the Southeast. He brings a diverse leadership background in treasury management, credit products, relationship management, and industry strategy. 

He has been a member of the Health Management and Policy Advisory Board at the University of Miami Herbert Business School since 2011, serving as chair from 2016-2021.

Alston has a bachelor's degree in business administration from the University of North Carolina at Chapel Hill and is a member of the Association of Financial Professionals, the Healthcare Financial Management Association, and holds the Certified Treasury Professional "CTP" designation from the AFP, in addition to other securities licenses.

Alston will be based in Jacksonville, Florida, and will report to Cagle, who was named head of Specialized Industries at Truist earlier this year.

HHG is one of several practices that make up the Specialized Industries team. The teams bring distinct solutions across Association Services (homeowner associations and property managers); Dealer Services (auto); Senior Care; Trustee Management; Mid/Small Cap Sponsors as well as Industry and Corporate Finance advisory.   

About Truist

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top 10 commercial bank with total assets of $536 billion as of March 31, 2025. Truist Bank, Member FDIC. Learn more at Truist.com.

 

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SOURCE Truist Financial Corporation

FAQ

Who is Charles Alston and what is his new role at Truist (TFC)?

Charles Alston is the newly appointed head of Truist's Nonprofit Hospitals, Higher Education and Government (HHG) banking team, bringing over 30 years of financial services experience.

What services does Truist's HHG banking team provide?

The HHG team provides public finance and trading, payments, credit, cash management, and strategic advice to nonprofit hospitals, colleges, universities, and government entities.

How many clients does Truist's HHG banking team serve?

Truist's HHG banking team serves more than 1,000 clients including nonprofit hospitals, colleges and universities, and municipal and government entities.

What was Charles Alston's previous position before joining Truist (TFC)?

Before joining Truist, Alston served as the market executive for Bank of America's Healthcare, Higher Education, and Not-for-Profit business covering the Southeast region.

Where will Charles Alston be based in his new role at Truist (TFC)?

Charles Alston will be based in Jacksonville, Florida, reporting to Jason Cagle, head of Specialized Industries at Truist.