Kelly King

Kelly King
Born
Kelly S. King

(1948-09-12) September 12, 1948 (age 77)
Raleigh, North Carolina, U.S.
EducationEast Carolina University (BBA, MBA)
Rutgers University (Stonier Graduate School of Banking)
Occupations
  • Banker
  • Business executive
Years active1972–2022
Known forChairman and CEO of Truist Financial; CEO of BB&T

Kelly S. King (born September 12, 1948) is a retired American banking executive who served as Chairman and CEO of Truist Financial, formed through the 2019 merger of BB&T and SunTrust Banks. He previously served as Chairman and CEO of BB&T Corporation from 2009 to 2019. Over a 49-year career with BB&T and Truist, King held numerous leadership roles and is credited with guiding BB&T through the 2008 financial crisis and orchestrating one of the largest bank mergers in American history.

Early life and education

King was born on September 12, 1948, in Raleigh, North Carolina.[1] He grew up in a family of modest means, working on his family's tobacco farm in Zebulon, east of Raleigh, during his childhood.[2] During high school, he worked as a salesman selling clothing and vacuums.[3]

King earned a Bachelor of Business Administration and a Master of Business Administration from East Carolina University in Greenville, North Carolina.[4] He subsequently attended the Stonier Graduate School of Banking at Rutgers University in Newark, New Jersey, where his thesis on leadership later became known as the Truist Leadership Model.[5]

Career

BB&T Corporation

King joined BB&T's Management Development Program in 1972, beginning a career that would span nearly five decades.[6] Over the course of his tenure at BB&T, he held a wide range of leadership positions, including manager of the Central and Metropolitan regions, Raleigh city executive, Charlotte business services manager, Statesville consumer lending manager, and banking manager for BB&T's branch network.[1]

He served as President of BB&T Corporation from 1996 to June 2004, and as Chief Operating Officer of both BB&T Corporation and Branch Banking and Trust Company from June 2004 to December 2008.[7]

In January 2009, King was named President and CEO of BB&T Corporation and Chairman and CEO of Branch Banking and Trust Company, succeeding John Allison.[2] He became Chairman of BB&T Corporation in January 2010.[4] King is credited with leading BB&T to continued profitability and financial stability during the 2008 financial crisis, and BB&T was among the first institutions to repay TARP funds.[8]

In January 2009, King was also named a director of the Federal Reserve Bank of Richmond.[1] He served on the Federal Advisory Council of the Federal Reserve System from 2013 to 2016, and served as its president in 2016.[6]

In December 2012, BB&T announced the elimination of a provision in King's contract that would have required him to step down at age 65, effectively extending his tenure as CEO.[9]

King established the BB&T Leadership Institute, a program aimed at providing leadership development and consultation to corporate executives, business owners, and education leaders.[7] He also founded the BB&T Lighthouse Project, an annual employee volunteer initiative that, since 2009, has resulted in more than 640,000 volunteer hours across over 11,000 community service projects.[7]

Truist Financial

In 2019, regulators approved the merger of equals between BB&T and SunTrust Banks, creating Truist Financial — at the time one of the largest bank mergers in U.S. history.[10] In December 2019, King became Chairman and CEO of Truist Financial Corporation, with the company relocating its headquarters to Charlotte, North Carolina.[11]

King retired as CEO of Truist in September 2021, with William Rogers Jr., the company's president and chief operating officer, succeeding him.[11] King remained as Executive Chairman of the Truist board until his full retirement in March 2022, concluding a 49-year career with BB&T and Truist.[5]

Post-retirement

Following his retirement, King became a Senior Advisor to KSK Investors, a Charlotte-based investment firm focused on the financial sector, working alongside his son Ken King.[5][2]

Board memberships and civic roles

Throughout his career, King served on numerous corporate and civic boards, including:

Recognition and awards

King received numerous awards and honors throughout his career:

Personal life

King is a resident of North Carolina and is Christian.[15]

References

  1. ^ a b c "BB&T – Company Information". Retrieved March 2, 2010. {{cite web}}: Check |archive-url= value (help)
  2. ^ a b c "Power list interview: Former Truist CEO Kelly King discusses leadership and happiness". Business North Carolina. March 31, 2023. Retrieved May 1, 2026.
  3. ^ Berman, Nat (March 8, 2019). "10 Things You Didn't Know About BB&T Corp CEO Kelly King". Money Inc. Retrieved July 4, 2019.
  4. ^ a b c d e f "Kelly S. King Bio". National Association of Corporate Directors. Retrieved May 1, 2026.
  5. ^ a b c d e "Kelly King". KSK Investors. Retrieved October 1, 2024.
  6. ^ a b c d e "Kelly King". Bank Policy Institute. Retrieved May 1, 2026.
  7. ^ a b c d e "Kelly King". Consumer Bankers Association. Retrieved May 1, 2026.
  8. ^ a b c d e "Kelly King – Chairman @ Truist Financial". Finnotes. Retrieved May 1, 2026.
  9. ^ "BB&T gives Kelly King three more years as CEO". American Banker. December 21, 2012. Retrieved March 1, 2013.
  10. ^ Chemtob, Danielle (November 19, 2019). "BB&T, SunTrust deal receives final approval from regulators for $66 billion merger". The Charlotte Observer. Archived from the original on November 20, 2019.
  11. ^ a b "Truist Begins Leadership Transition As Longtime Exec Kelly King Retires". WFDD. September 13, 2021. Retrieved May 1, 2026.
  12. ^ "Banker of the Year: BB&T's Kelly King". American Banker. December 21, 2015. Retrieved July 4, 2019.
  13. ^ "Financial Leaders Inducted into North Carolina Business Hall of Fame". Premier Inc. Retrieved May 1, 2026.
  14. ^ "Power Players 2019: Kelly King". Triad Business Journal. October 30, 2019. Retrieved May 2, 2023.
  15. ^ "Once and future King". Business North Carolina. October 25, 2011. Retrieved July 4, 2019.

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