Dive Brief:
- Truist named Brad Bender as its chief risk officer, effective immediately, the bank announced Wednesday..
- Bender will succeed Clarke Starnes, a 42-year veteran of the company, who is retiring. Starnes, who vacates a vice chair position in addition to his CRO role, will stay on at Truist through April 30, 2025, as a senior adviser to ensure a smooth transition, the bank said.
- Bender had served as Truist’s interim chief information officer starting in April. But that role was set to expire in late October, when incoming full-time CIO Steve Hagerman arrived from Wells Fargo.
Dive Insight:
Wednesday’s move punctuates Bender’s continuing rise at the bank. A year ago, Bender was serving as head of consumer finance solutions, as well as enterprise operations and global services.
His role was narrowed last November – to focus on enterprise operational services – as the bank began its reorganization and $750 million cost-cutting mission. But when Scott Case, Truist’s previous CIO, left the bank, Bender was tapped to replace him – if only on an interim basis. The move, though, elevated Bender to Truist’s operating council.
"Brad brings demonstrated results and a strong background in credit risk, policy management, and technology operations to this important role,” Truist CEO Bill Rogers said in a statement Wednesday. “His proven leadership experience with end-to-end enterprise operations and lending makes him well suited to serve as chief risk officer."
In his role, Bender will oversee risk-related aspects of credit, market, capital, liquidity, operational, compliance and technology, along with Truist's regulatory relations, ethics and financial crimes functions.
Bender came to Truist from the BB&T side of the merger of equals that formed Truist in 2019. He started at BB&T in 2004, according to his LinkedIn profile.
Rogers, meanwhile, lauded Bender’s CRO predecessor, Starnes, for holding a crucial role in the 2019 merger. Starnes joined the bank in 1982 through its leadership development program.
"Among the hallmarks of Clarke's illustrious career are his steady, purpose-driven leadership, depth of experience, and the deep regard his industry peers have for his extensive expertise and insights," Rogers said. "It has been an honor to work with him, and we thank him for his tremendous service on behalf of our clients, teammates and stakeholders."
Starnes will continue to receive his current base salary throughout his tenure as senior adviser and remain eligible for his annual cash incentive for 2024, the bank said.
