Barclays Global Financial Services Conference
Committed to Achieving Cost Saves
Cost
saves
Uniquely
positioned to
deliver results
Third Party Spend
Driven by banking services,
general & admin, HR and
professional services
Significantly ahead of
target for contracted
vendor savings
Retail Banking
Non-Branch Facilities
Driven by branch
closures and staff
rationalization
~800 total closures
~300 closures
~5MM net sq. ft. reduction;
vetting additional
opportunity
~$30 per sq. ft. anticipated
savings
Technology
Driven by integration
efforts, applications,
hardware and staff
rationalization
Personnel
~8%1 avg. FTE
decrease by y/e 2020
Includes normal
attrition and reductions
in force
Investments
Digital
Innovation
Marketing /
Branding
Talent
LightStream
Expansion
1 Reflects normal attrition and reductions in force from 1Q19 proforma through y/e 2020
TRUIST HH
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