Truist appoints insider Maguire as new CFO

(Reuters) – Truist Financial Corp said on Wednesday Michael Maguire, its consumer finance and payments head, has been named the bank’s chief financial officer.

Maguire, 44, replaces Daryl Bible, who will retire from the bank after a transition period, Truist said. He will take on his new role on Sept. 15, the Charlotte, North Carolina-based bank added.

The appointment comes as the bank is seeking to expand its financial services through acquisitions. On Tuesday, its unit Truist Insurance Holdings said it would buy insurance premium finance company BankDirect Capital Finance for $3.4 billion.

Last month, Truist also agreed to buy Zaloni Arena to expand its data management operations.

(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)