Truist adds industry specialties to growing Commercial Banking team | State / Regional
CHARLOTTE, NC, May 20, 2021 / PRNewswire / – Truist Financial Corporation (NYSE: TFC) today announced the addition of Truist Commercial Community Bank’s Industry Consulting team to add waste, environmental services and construction products to their growing list of industry specialties. Truist’s Commercial Community Bank specializes in serving business customers with annual sales between $ 2 million and $ 500 million.
Prachi Wagner joined Truist as an industry consultant for waste and environmental services and will be based in Charlotte, and Matt Roth will act as a consultant for the construction products industry and will continue to be based in Washington, DC
“Truist’s unique model leverages industry-specific experts to help our bankers deliver bespoke financial and advisory solutions that are tailored to the characteristics of businesses in the space,” he said Mary-Crawford Taylor, Head of Industry Consulting at Truist. “The addition of waste and environmental services and construction products complements our current list of specialties and increases and accelerates our ability to develop and deepen customer relationships in these industries.”
Truist Commercial Community Bank’s current specialties also include: merchant trading services; Care for the elderly; Aerospace, defense and public procurement; Club services; Logistics and supply chain; Food and agribusiness; Education; non-profit hospitals and health systems; and drinks.
Wagner has more than 17 years of experience in banking and engineering. Prior to joining Truist, Wagner was a consultant for the waste and recycling industries at Wells Fargo, covering the eastern and southern regions of the United States. Her experience includes working for Bank of America Merrill Lynch in its mid-market and investment banking groups. She also worked as a construction engineer. Wagner has an MBA from the University of Chicago.
“Companies in the waste and environmental services sectors value a banking partner who understands the regulatory and capital complexities of this area,” said Wagner. “I’m very excited to join Truist and work with our community bankers to expand our engagement in this industry.”
In his 16-year career at Truist, Roth held executive positions that focused on commercial, medium-sized and real estate loans. In the real estate sector, his expertise focused on commercial construction and regional home builders in markets in the Mid-Atlantic, Southeast and South Atlantic Texas.
“Construction products are a dynamic place to be active. It is therefore particularly important to partner with partners who fully understand the industry,” said Roth. “It’s exciting to serve our customers with local bankers and still have the industry expertise every step of the way.”
The waste and environmental services industries are mainly focused on family non-hazardous waste companies, hazardous waste companies and recyclers. Waste companies include household waste transport companies, industrial waste transport companies, commercial waste transport companies, medical waste companies, waste oil recycling companies, and remediation companies. This also includes companies that transport waste between transfer stations and landfills. Recycling companies include scrap recyclers who recycle iron (like steel and iron) or non-ferrous (like copper and aluminum).
The construction product industry specialty will pursue companies specializing in residential, commercial and industrial construction products. These organizations can be further broken down into industry channels for sales, manufacturing, or building materials. The products will ultimately be used in the construction, renovation or maintenance of residential or commercial buildings and other types of land development.
Truist Financial Corporation is a purpose-driven financial services company dedicated to building better lives and communities. Truist was formed through the historic merger of BB&T and SunTrust and has a leading market share in many of the country’s high-growth markets. The company offers a wide range of services including residential, small business and corporate customers. Asset management; Capital markets; Commercial real estate; Corporate and institutional banking; Insurance; Mortgage; Payments; specialized lending; and asset management. Headquarters in Charlotte, North CarolinaTruist is the sixth largest commercial bank in the US with total assets of $ 518 billion from March 31, 2021. Truist Bank, member of FDIC. Learn more at Truist.com.
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SOURCE Truist Financial Corporation