Truist has hired Fiserv’s chief executive, Mike Lyons, to be its next president and CEO, succeeding Bill Rogers, the bank said Monday.

Lyons, 55, starts as Truist’s CEO Sept. 1, the bank said in a news release. Rogers, who has been the Charlotte, North Carolina-based bank’s CEO since September 2021, will become executive chair on that date. Rogers is set to remain in that role until his retirement in April 2027.

“Through our succession planning process, it became clear that Mike is an action-oriented leader committed to high performance across the full range of our company operations and the right person to lead Truist's next chapter of growth,” Thomas Skains, Truist’s lead independent director, said in the release. “We are incredibly grateful for Bill's purpose-driven leadership as Truist's chief executive officer, and we look forward to his impactful contributions as executive chair.”  

Rogers, 68, was also Truist’s president and chief operating officer from 2019 to 2021. He had been CEO of Atlanta-based SunTrust, which merged with Winston-Salem, North Carolina-based BB&T in 2019 to form Truist.

Following the merger of equals, Truist undertook a significant cost-cutting effort and sold its insurance business. Last year, analysts said the super-regional seemed to be turning the corner on growth. 

Rogers fielded some tough questions during the $549 billion-asset bank’s first-quarter earnings call in April, when he was asked about succession plans at the lender, and reports that Truist might be bought by a larger bank.

Rogers balked at speculating on the latter, which he called a “rumor.” 

“We feel great about our business, and we feel great about the trajectory that we’re establishing,” Rogers said.

As for succession, Rogers didn’t answer directly but highlighted the bank’s strengths, including what he called a “strong leadership team.” 

“I’ve got a great job leading a great purpose-led company,” Rogers said. “Just be confident that our board has a strong succession process, and they can apply that against this incredible framework.”

On Monday, Rogers said Lyons will “move Truist forward with purpose and care, and a sense of urgency to realize our potential.” 

“It has been the professional privilege of my lifetime to lead Truist and to work alongside truly extraordinary teammates,” Rogers said in the release. “We are proud and ready for this important next chapter in our story.”

Lyons joined payments giant Fiserv in January 2025, as former CEO Frank Bisignano accepted a Trump administration position, heading up the Social Security Administration. 

Lyons officially became Fiserv CEO last May. Lyons has dubbed this a transition year for Fiserv, after he announced a “critical and necessary reset” for the company last October. 

Prior to Fiserv, Lyons had been president of Pittsburgh-based PNC, where he spent about 13 years. 

“Truist is an exceptional bank with a strong foundation, incredible teammates and an extraordinary culture,” Lyons said in the release. “I couldn't be more excited to join the bank as CEO to apply my leadership experience and vision to drive the next phase of Truist's growth, cementing its position as a bank of choice for clients and creating value in the communities we serve. I also want to express my gratitude to Bill for the company and culture he has built.”