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Kelly King

From Wikipedia, the free encyclopedia

Kelly S. King (born September 12, 1948 in Raleigh, North Carolina)[1] was the Executive Chairman of Truist Financial, formerly BB&T Corporation.

Early life and education

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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]

Career

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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]

He retired as the CEO in 2021 and Executive Chairman of Truist in 2022. [9]

He is currently a senior advisor to KSK Investors, an investment firm focused on the financial sector. [10]

Compensation

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During his first year as CEO of BB&T in 2009, King earned a total compensation of $4,469,300.[11]

Personal life

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A resident of North Carolina, King is Christian.[12]

References

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  1. ^ "BB&T - Company Information". Archived from the original on 2012-02-22. Retrieved 2010-03-02.
  2. ^ a b Berman, Nat (2019-03-08). "10 Things You Didn't Know About BB&T Corp CEO Kelly King". Money Inc. Retrieved 2019-07-04.
  3. ^ MarketScreener. "Kelly King - Biography". www.marketscreener.com. Retrieved 2019-07-04.
  4. ^ "BB&T gives Kelly King three more years as CEO". American Banker. 21 December 2012. Retrieved 1 March 2013.
  5. ^ "Banker of the Year: BB&T's Kelly King". American Banker. 21 December 2015. Retrieved 2019-07-04.
  6. ^ The Charlotte Observer [dead link]
  7. ^ Craver, Richard (December 9, 2019). "Truist CEO: Most customers won't see any account changes". Winston-Salem Journal.
  8. ^ "Power Players 2019: Kelly King". Triad Business Journal. October 30, 2019. Retrieved 2 May 2023.
  9. ^ Post; Share; Post; Print; Email; License. "8 Truist board members to leave at year-end". Banking Dive. Retrieved 2024-10-01. {{cite web}}: |last5= has generic name (help)
  10. ^ "Kelly King". KSK Investors. Retrieved 2024-10-01.
  11. ^ "Kelly King: Executive Profile & Biography - BusinessWeek". 3 September 2010. Archived from the original on 2010-09-03. Retrieved 2 May 2023.
  12. ^ "Once and future King". Business North Carolina. 2011-10-25. Retrieved 2019-07-04.
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