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Kelly S. King (born September 12, 1948 in Raleigh, North Carolina) [1] is Executive Chairman of Truist Financial, formerly BB&T Corporation.
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Kelly S. King (born September 12, 1948 in Raleigh, North Carolina) [1] is Executive Chairman of Truist Financial, formerly BB&T Corporation.
King worked on his family's tobacco farm during childhood, located in Zebulon to the East of Raleigh. [2] During high school, he was a salesman for clothing and vacuums. [2] He then received a Bachelor of Business Administration, East Carolina University, Greenville, North Carolina, followed by an M.B.A. from the same institution. [3] He also attended Stonier Graduate School of Banking at Rutgers University, Newark, New Jersey.[ citation needed ]
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King began his career in BB&T's Management Development Program in 1972 and has served in many roles, including manager of its Central and Metropolitan regions, Raleigh city executive, Charlotte business services manager, Statesville consumer lending manager, and banking manager for BB&T's branch network. In January 2009, he was named a director of the Federal Reserve Bank of Richmond. Before his appointment as CEO on 1 January 2009, King was BB&T's chief operating officer from 2004 to 2008. In December 2012, BB&T announced that they eliminated a provision in King's contract that would have required him to step down when he turns 65, effectively keeping him as CEO for three more years. [4] He was named Banker of the Year 2015 by American Banker magazine. [5] In 2019, regulators approved the merger of BB&T and SunTrust, creating a new institution to be called Truist. [6] King remains CEO and chairman of Truist. [7] In October 2019, the Triad Business Journal named him one of the year's "Power Players" in business. [8]
During his first year as CEO of BB&T in 2009, King earned a total compensation of $4,469,300. [9]
A resident of North Carolina, King is Christian. [10]
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SunTrust Banks, Inc. was an American bank holding company with SunTrust Bank as its largest subsidiary and assets of US$199 billion as of March 31, 2018. The bank's most direct corporate parent was established in 1891 in Atlanta, where it was headquartered.
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The Truist Center is a 47-story, 659 feet (201 m) skyscraper in Uptown Charlotte, North Carolina. The city's third tallest building, it is located along North Tryon Street. It was opened on November 14, 2002, and was the city's second tallest building, and was known as the "Hearst Tower" until 2019. The structure is composed of a 32-story tower resting atop a 15-floor podium. During Bank of America's occupancy in the building located on the podium was a three-story trading facility designed by Skidmore, Owings & Merrill and operated by Bank of America. The trading facility included a 6,000-square-foot (560 m2), two-story trading floor. Now the former trading floor is part of Truist's 100,000 square feet (9,300 m2) technology innovation center. The building is currently the headquarters of Truist Financial, which purchased the building in March 2020.
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Truist Stadium is a ballpark in Winston-Salem, North Carolina that replaced Ernie Shore Field. It is primarily used for baseball, and is the home field of the Winston-Salem Dash minor league baseball team and primary home field of the Carolina Disco Turkeys summer collegiate baseball team.
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United Carolina Bank (UCB) was a bank headquartered in Whiteville, North Carolina. It was formed in 1980 by the merger of four banks, including Waccamaw Bank of Whiteville. BB&T (now Truist Financial) acquired UCB in 1997.
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Truist Point is a baseball stadium located in High Point, North Carolina and is home to the High Point Rockers of the Atlantic League of Professional Baseball. The ballpark is bordered by Elm, English, Gatewood and Lindsay streets. Truist is paying $500,000 annually for 15 years for the naming rights.
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BB&T Corporation was one of the largest banking and financial services firms in the United States, based in Winston-Salem, North Carolina. In 2019, BB&T announced its intentions to merge with Atlanta-based SunTrust Banks to form Truist Financial, which retains BB&T's stock price history and operates under BB&T's charter.