Michael Baron Maguire
Summary
Michael Baron Maguire is Truist’s Senior EVP and CFO, a position he has held since September 2022 after serving in consumer finance, payments, fintech investing and technology-focused investment banking roles at Truist and its predecessors. ([ir.truist.com](https://ir.truist.com/2022-09-07-Truist-names-Mike-Maguire-as-chief-financial-officer?utm_source=openai))
Biography
Maguire became Truist’s CFO effective September 15, 2022, succeeding Daryl Bible. In the role, he oversees financial planning and analysis, treasury, accounting, tax, investor relations, corporate strategy, mergers and acquisitions, and sourcing. ([ir.truist.com](https://ir.truist.com/2022-09-07-Truist-names-Mike-Maguire-as-chief-financial-officer?utm_source=openai)) Before becoming CFO, Maguire was Truist’s chief consumer finance and payments officer, leading businesses that included LightStream, Service Finance, Sheffield Financial and auto lending, while also overseeing enterprise and wholesale payments. Earlier, he led enterprise partnerships and investments, including strategic fintech equity investments, and spent 16 years as an investment banker at Truist Securities, completing more than 150 technology-sector advisory and financing transactions. Maguire earned a bachelor’s degree in business administration from the University of North Carolina at Chapel Hill and an MBA from Emory University. ([media.truist.com](https://media.truist.com/mike_maguire))
Notable achievements
- Expanded into the CFO role after experience across consumer lending, payments, fintech investments and investment banking. ([ir.truist.com](https://ir.truist.com/2022-09-07-Truist-names-Mike-Maguire-as-chief-financial-officer?utm_source=openai))
- Played a central finance role in Truist’s 2024 sale of Truist Insurance Holdings, a transaction valued at approximately $15.5 billion that management said would strengthen capital and liquidity. ([investing.com](https://www.investing.com/news/economy/truist-to-sell-insurance-brokerage-business-to-investor-group-in-155-billion-deal-3308283))
- Helped oversee capital distribution during 2025, when Truist paid $2.7 billion in common dividends and repurchased $2.5 billion of common stock. ([sec.gov](https://www.sec.gov/Archives/edgar/data/92230/000009223026000030/tfc-20251231.htm?utm_source=openai))
- Supported financial reporting for 2025, when Truist reported $5.0 billion of net income to common shareholders and a 10.8% year-end CET1 ratio. ([sec.gov](https://www.sec.gov/Archives/edgar/data/92230/000009223026000030/tfc-20251231.htm?utm_source=openai))
- Previously completed more than 150 fintech-sector advisory and financing transactions, including mergers and acquisitions, IPOs, private placements, leveraged loans and restructurings. ([media.truist.com](https://media.truist.com/mike_maguire))
Problem areas / controversies
- Truist’s 2023 results included a quarterly loss affected by regulatory and restructuring charges, weaker net interest income and the costs of simplifying the organization. ([investing.com](https://www.investing.com/news/economy/truist-to-sell-insurance-brokerage-business-to-investor-group-in-155-billion-deal-3308283))
- The insurance-business sale improved capital flexibility but also removed a sizable fee-generating business, leaving management with the challenge of replacing those earnings through banking growth and other activities. ([investing.com](https://www.investing.com/news/economy/truist-to-sell-insurance-brokerage-business-to-investor-group-in-155-billion-deal-3308283))
- Truist recorded $156 million of severance expense and a $130 million accrual related to a legal settlement in 2025, highlighting continuing restructuring and legal costs during Maguire’s tenure as CFO. ([sec.gov](https://www.sec.gov/Archives/edgar/data/92230/000009223026000030/tfc-20251231.htm?utm_source=openai))
- The CFTC’s 2024 recordkeeping and supervision action against Truist Bank involved failures to preserve business communications, including messages used by senior-level employees; the bank self-reported the issue, paid a $3 million penalty and agreed to remediation. ([cftc.gov](https://www.cftc.gov/PressRoom/PressReleases/8945-24))