Truist Financial Corporation announced the creation of its Institutional Capital Group (ICG) on November 17, 2025, appointing former Citi executive Chris Jackson to lead the new unit. The ICG will focus on middle‑market private‑equity sponsors and family offices, offering core banking, payments, and capital‑markets solutions to clients within Truist’s commercial footprint. The group will be headquartered in New York City, with Matt Gormly based in Dallas and Jamie Citrin in Atlanta.
The announcement comes after Truist reported its third‑quarter 2025 results on October 17, 2025. The bank posted earnings per share of $1.04, beating consensus estimates of $0.99 by $0.05, and revenue of $5.24 billion, surpassing the $5.20 billion forecast. Year‑over‑year revenue grew 1.9 percent, and the net margin stood at 16.84 percent. Management maintained its full‑year 2025 guidance, projecting adjusted revenue growth of 1.5 % to 2.5 % and a 1 percent rise in expenses.
Truist’s decision to launch the ICG is driven by the rapid expansion of the middle‑market private‑equity sector, which has grown 84 percent over the past decade. By establishing a dedicated team, the bank aims to capture fee‑income opportunities and deepen cross‑sell potential across its commercial and corporate banking portfolio. The move also diversifies Truist’s revenue base and strengthens its competitive position in a segment that is increasingly attractive to investors seeking operational improvements and growth.
Jason Cagle, Head of Specialized Industries and Institutional Capital at Truist, said the appointment of Chris Jackson would bring ‘deep sponsor coverage expertise and a product‑focused mindset that will help us build a differentiated offering for middle‑market sponsors and family offices.’ Cagle added that segmenting institutional capital clients by their specific needs will increase Truist’s relevance and share of wallet.
The ICG launch is part of Truist’s broader strategy to offset headwinds in its core banking business, such as the recent downward revision of revenue guidance and the mixed outlook for investment banking activity. By targeting a high‑growth niche, the bank seeks to offset slower growth in legacy segments and reinforce its long‑term profitability.
With the ICG in place, Truist is positioned to leverage its existing commercial banking capabilities while tapping into a rapidly expanding market. The bank’s guidance signals confidence in maintaining profitability through disciplined cost management and strategic investments, even as it navigates broader market uncertainties.
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