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SunTrust Banks, Inc. Message Board

  • sadbanker sadbanker Aug 7, 2007 8:09 PM Flag

    SunTrust-The Death of a Once Great Bank

    I have lurked on this message board for many years, curious, but not inclined to post. I enjoyed the banter and speculation about where SunTrust was headed. I have been a loyal SunTrust employee for 15 years. I have smiled and given my, "Why SunTrust" speech to thousands of possible clients. I believed that SunTrust management cared about the customer and the employee. I am heart broken by the direction that SunTrust has taken in regard to the employees. A large majority of our branch employees are angry, depressed and no longer care about where we are headed. They are brow beaten hourly by middle managers demanding to know what they have sold by 10 am...12 pm...2 pm or whether they have logged their 25 calls today. These employees know that SunTrust is no longer a leader in customer service and relationship building, but a machine fueled by the next sell. It no longer matters how we get the client in the door, or whether our suggestions are in their best interest. The concepts of customer service and employees who believe in the company are dead. Employees are leaving in mass. Those of us who are left are praying for a buyout.

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    • another sti employee here. the list is accurate....i've receioved the email announcements on some of them. i have been around banking for 25 years...retail, corporate, lending, investments. Been with othr banks doing it other ways and have sen what works and what does not. have seen market managers added then the position eliminated, area managers added then now 2 years later eliminated, etc etc etc. all reactive resulting in lost momentum. I am in retail in FL. Our area managers track numbers hourly and are in every branch manager's business constantly. The managers are in charge with no authority and what used to be a driver...running your own pretty much gone. My area manager is like the local bank president to the public...or should be. Active in the community and moving and shaking with the business owners and pulling in significant business as a result. What I see are introverted number crunching whip crackers. The proactive approach and results are not happening and even if they figured it out in many cases they now have the wrong people in the jobs. What killed it for me was the branch incentive. The messed with it and my year end payout was much less even though my office did HUGELY better. I was done with that job and changed roles. The best people are still trying to do the absolute best thing for all clients in every interaction but most no longer enjoy what they do which detracts from the magic that should be there. But correct...skilled bankers are getting rare.

    • The new thought is that WAMU is a possible buyer. They need a larger presence in Florida and Georgia. They have 350 billion in cash reserves. There is a unexpected meeting coming up in Atlanta. Of course, it is all speculation. That is what Wamulians are saying.

    • Yes - a few of the people on this list were at the top of their leader boards based on their respective Wealth Bands.

      Some of the attrition is just the nature of the business - you work until you don't have to repay your signing bonus and guaranteed incentive compensation and then move on to the next company and do the same thing. But sadly, some of it is directly related to the E2 initiatives.

      This happens frequently with STI. Cut the support personnel of the people with Client Contact and ultimately the clients and service levels suffer the most - sales people get irritated and quit. And then STI in their infinite wisdom, change their minds and higher a bunch of people when they realize their hasty decisions are actually hurting the bottom line.

    • sti_good - those names mean a lot to me as I have know most of them personally for the last 10 years while working at ST in Central FL. It has been awful as of late watching a great institution slowly break down - we have lost so many good people with a vast wealth of knowledge and will soon lose more as the word is out on more cuts this month. It's becoming like a death watch throughout the footprint - waiting for the next ax to drop.

    • CHICKENSH_T!!!!!!

    • It truly amazes me how all of you "experts" are crawling out of the woodwork after the fact. Just as when I played ball in high school and college, I always knew on Saturday or Sunday morning (depending on the day of the game) if I should have thrown a specific pass, which was intercepted and stopped our drive or was run back for a touchdown. In the same light, I would imagine these same Sun Trust executives which are consistently "trashed" could probably tell each of you, after the fact, where you made decisions that were not the best or perhaps entirely wrong. I would recommend to each of you to consider the fact that decisions are made with the information available at that time without the benefit of hindsight that each of us now have. This would include employees that are looking back to the good old days. That energy should be used to improve your specific area of responsibility within the bank, not wasting it on negatives.

    • unhappy_long_time_client unhappy_long_time_client Aug 14, 2007 9:46 PM Flag

      "But the list proves to me that you are not who you say you are."
      Okay, so I guess you are now psychic also? Oh that's must be management. So tell me, do you know yet when your position is being cut?

    • unhappy_long_time_client unhappy_long_time_client Aug 14, 2007 9:41 PM Flag

      I don't know that, but several went on a trip earlier this year that I believ it was for top performers.

    • Of course you would reference Karl Rove ... maybe without the Puppet Master, George Bush can't make too many more mistakes as the worst President in our history.

      The list is accurate. Period!

    • Why no dividend announcement for 3rd qtr.? Is due in Sept.

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