Truist hires new legal chief

Charlotte, North Carolina-based Truist Financial Corporation has hired Scott Stengel as senior executive vice president, chief legal officer and corporate secretary, effective December 26.

He will succeed Ellen Fitzsimmons, who has announced her intention to retire at the end of the year.

Stengel is joining Truist from Ally Financial, where he has been general counsel since 2016. According to a regulatory filing, Ally has named Isvara Wilson, who is the firm’s deputy general counsel for corporate and securities, as acting general counsel following Stengel’s departure.

Before joining Ally, Stengel was general counsel at UMB Financial Corporation. Before moving in-house, he had been a partner at King & Spalding and earlier Orrick Herrington & Sutcliffe, advising clients on global banking, capital markets and government relations matters.

Before joining Truist, Fitzsimmons spent 26 years with CSX, including as executive vice president of law and public affairs, general counsel and corporate secretary.

Rogers says in a statement: ‘We’re pleased to welcome Scott Stengel to Truist to guide our legal affairs and government relations strategy at a critical time of rapid change in the industry. [He] is an entrepreneurial leader with deep financial services legal experience spanning corporate governance, compliance, digital innovation, cyber-security, government relations and risk management, and he possesses the right growth-oriented mindset to navigate industry headwinds while helping fulfill our purpose of inspiring and building better lives and communities.

‘In her six years at Truist, Ellen Fitzsimmons’ exceptional, purpose-driven actions and leadership have left a positive, indelible mark on Truist, our clients, teammates, communities and stakeholders. We wish her the very best in her well-deserved retirement and congratulate her on a storied career.’