{{Short description|American banker and business executive}} {{Use American English|date=July 2024}} {{Use mdy dates|date=July 2024}} {{Infobox person | name = Kelly King | birth_name = Kelly S. King | birth_date = {{birth date and age|1948|9|12}} | birth_place = Raleigh, North Carolina, U.S. | education = East Carolina University (BBA, MBA)<br>Rutgers University (Stonier Graduate School of Banking) | occupation = {{hlist|Banker|Business executive}} | years_active = 1972–2022 | known_for = Chairman and CEO of Truist Financial; CEO of BB&T | spouse = | children = }}
'''Kelly S. King''' (born September 12, 1948) is a retired American banking executive who served as Chairman and CEO of Truist Financial, formed through the 2019 merger of BB&T and SunTrust Banks. He previously served as Chairman and CEO of BB&T Corporation from 2009 to 2019. Over a 49-year career with BB&T and Truist, King held numerous leadership roles and is credited with guiding BB&T through the 2008 financial crisis and orchestrating one of the largest bank mergers in American history.
==Early life and education== King was born on September 12, 1948, in Raleigh, North Carolina.<ref name="bbt-bio">{{cite web |title=BB&T – Company Information |url=https://web.archive.org/web/20120222112639/http://bbt.mediaroom.com/index.php?s=18&item=100 |archive-url=https://web.archive.org/web/20120222112639/http://bbt.mediaroom.com/index.php?s=18&item=100 |archive-date=February 22, 2012 |access-date=March 2, 2010}}</ref> He grew up in a family of modest means, working on his family's tobacco farm in Zebulon, east of Raleigh, during his childhood.<ref name="businessnc2023">{{cite web |title=Power list interview: Former Truist CEO Kelly King discusses leadership and happiness |url=https://businessnc.com/power-list-interview-former-truist-ceo-kelly-king-discusses-leadership-and-happiness/ |website=Business North Carolina |date=March 31, 2023 |access-date=May 1, 2026}}</ref> During high school, he worked as a salesman selling clothing and vacuums.<ref name="moneyinc">{{cite web |last=Berman |first=Nat |date=March 8, 2019 |title=10 Things You Didn't Know About BB&T Corp CEO Kelly King |url=https://moneyinc.com/bbt-corp-ceo-kelly-king/ |website=Money Inc |access-date=July 4, 2019}}</ref>
King earned a Bachelor of Business Administration and a Master of Business Administration from East Carolina University in Greenville, North Carolina.<ref name="nacd">{{cite web |title=Kelly S. King Bio |url=https://www.nacdonline.org/speaker-bios/kelly-s-king/ |website=National Association of Corporate Directors |access-date=May 1, 2026}}</ref> He subsequently attended the Stonier Graduate School of Banking at Rutgers University in Newark, New Jersey, where his thesis on leadership later became known as the Truist Leadership Model.<ref name="kskinvestors">{{cite web |title=Kelly King |url=https://kskinvestors.com/kelly-king |website=KSK Investors |access-date=October 1, 2024}}</ref>
==Career==
===BB&T Corporation=== King joined BB&T's Management Development Program in 1972, beginning a career that would span nearly five decades.<ref name="bpi">{{cite web |title=Kelly King |url=https://bpi.com/people/kelly-king/ |website=Bank Policy Institute |access-date=May 1, 2026}}</ref> Over the course of his tenure at BB&T, he held a wide range of leadership positions, including manager of the Central and Metropolitan regions, Raleigh city executive, Charlotte business services manager, Statesville consumer lending manager, and banking manager for BB&T's branch network.<ref name="bbt-bio"/>
He served as President of BB&T Corporation from 1996 to June 2004, and as Chief Operating Officer of both BB&T Corporation and Branch Banking and Trust Company from June 2004 to December 2008.<ref name="cba">{{cite web |title=Kelly King |url=https://www.consumerbankers.com/kelly-king |website=Consumer Bankers Association |access-date=May 1, 2026}}</ref>
In January 2009, King was named President and CEO of BB&T Corporation and Chairman and CEO of Branch Banking and Trust Company, succeeding John Allison.<ref name="businessnc2023"/> He became Chairman of BB&T Corporation in January 2010.<ref name="nacd"/> King is credited with leading BB&T to continued profitability and financial stability during the 2008 financial crisis, and BB&T was among the first institutions to repay TARP funds.<ref name="finnotes">{{cite web |title=Kelly King – Chairman @ Truist Financial |url=https://www.finnotes.org/people/kelly-king |website=Finnotes |access-date=May 1, 2026}}</ref>
In January 2009, King was also named a director of the Federal Reserve Bank of Richmond.<ref name="bbt-bio"/> He served on the Federal Advisory Council of the Federal Reserve System from 2013 to 2016, and served as its president in 2016.<ref name="bpi"/>
In December 2012, BB&T announced the elimination of a provision in King's contract that would have required him to step down at age 65, effectively extending his tenure as CEO.<ref>{{cite news |title=BB&T gives Kelly King three more years as CEO |url=http://www.americanbanker.com/people/bbt-gives-king-three-more-years-as-ceo-1055398-1.html |work=American Banker |date=December 21, 2012 |access-date=March 1, 2013}}</ref>
King established the BB&T Leadership Institute, a program aimed at providing leadership development and consultation to corporate executives, business owners, and education leaders.<ref name="cba"/> He also founded the BB&T Lighthouse Project, an annual employee volunteer initiative that, since 2009, has resulted in more than 640,000 volunteer hours across over 11,000 community service projects.<ref name="cba"/>
===Truist Financial=== In 2019, regulators approved the merger of equals between BB&T and SunTrust Banks, creating Truist Financial — at the time one of the largest bank mergers in U.S. history.<ref>{{cite web |last=Chemtob |first=Danielle |date=2019-11-19 |title=BB&T, SunTrust deal receives final approval from regulators for $66 billion merger |url=https://www.charlotteobserver.com/news/business/banking/article237549389.html |website=The Charlotte Observer |archive-url=https://web.archive.org/web/20191120040402/https://www.charlotteobserver.com/news/business/banking/article237549389.html |archive-date=2019-11-20}}</ref> In December 2019, King became Chairman and CEO of Truist Financial Corporation, with the company relocating its headquarters to Charlotte, North Carolina.<ref name="wfdd">{{cite web |title=Truist Begins Leadership Transition As Longtime Exec Kelly King Retires |url=https://www.wfdd.org/2021-09-13/truist-begins-leadership-transition-as-longtime-exec-kelly-king-retires |website=WFDD |date=September 13, 2021 |access-date=May 1, 2026}}</ref>
King retired as CEO of Truist in September 2021, with William Rogers Jr., the company's president and chief operating officer, succeeding him.<ref name="wfdd"/> King remained as Executive Chairman of the Truist board until his full retirement in March 2022, concluding a 49-year career with BB&T and Truist.<ref name="kskinvestors"/>
===Post-retirement=== Following his retirement, King became a Senior Advisor to KSK Investors, a Charlotte-based investment firm focused on the financial sector, working alongside his son Ken King.<ref name="kskinvestors"/><ref name="businessnc2023"/>
==Board memberships and civic roles== Throughout his career, King served on numerous corporate and civic boards, including: * Board member of the Federal Reserve Bank of Richmond (2009–2012)<ref name="bpi"/> * President of the Federal Advisory Council of the Federal Reserve System (2016)<ref name="bpi"/> * Board member of The Clearing House (from 2009)<ref name="bpi"/> * Chairman of the North Carolina Bankers Association board<ref name="nacd"/> * Chairman of the North Carolina Rural Economic Center<ref name="nacd"/> * Chairman of the North Carolina Small Business and Technology Development Center<ref name="nacd"/> * Chairman of the Board of Visitors, East Carolina University<ref name="nacd"/> * Chairman of the Piedmont Triad Partnership<ref name="finnotes"/> * Vice Chairman of the American Bankers Council<ref name="finnotes"/> * Board member of BEST NC, Foundation for the Carolinas, Charlotte Executive Leadership Council, and the Bank Policy Institute<ref name="finnotes"/>
==Recognition and awards== King received numerous awards and honors throughout his career: * Named one of SNL Financial's Top 5 Most Influential in the Banking Industry (2014 and 2015)<ref name="cba"/> * Named "Banker of the Year" by ''American Banker'' magazine (2015)<ref>{{cite news |title=Banker of the Year: BB&T's Kelly King |url=https://www.americanbanker.com/news/banker-of-the-year-bb-amp-ts-kelly-king |work=American Banker |date=December 21, 2015 |access-date=July 4, 2019}}</ref> * Named one of BankInfoSecurity's "Top 10 Influencers in Banking InfoSec" (2015)<ref name="cba"/> * Old Hickory Council Distinguished Citizen Award (2016)<ref name="finnotes"/> * Inducted into the North Carolina Business Hall of Fame (2018)<ref>{{cite web |title=Financial Leaders Inducted into North Carolina Business Hall of Fame |url=https://premierinc.com/newsroom/premier-in-the-news/financial-leaders-inducted-into-north-carolina-business-hall-of-fame |website=Premier Inc |access-date=May 1, 2026}}</ref> * Named "Power Players 2019" by the Triad Business Journal (2019)<ref>{{cite web |title=Power Players 2019: Kelly King |url=https://www.bizjournals.com/triad/news/2019/10/30/power-players-2019-kelly-king.html |website=Triad Business Journal |date=October 30, 2019 |access-date=May 2, 2023}}</ref> * Inducted into the North Carolina Banking Hall of Fame (2021)<ref name="kskinvestors"/> * Named Businessperson of the Year by Charlotte Business Journal (2021)<ref name="kskinvestors"/>
==Personal life== King is a resident of North Carolina and is Christian.<ref>{{cite web |title=Once and future King |url=https://businessnc.com/once-and-future-kingcategory/ |website=Business North Carolina |date=October 25, 2011 |access-date=July 4, 2019}}</ref>
==References== {{Reflist}}
==External links== * [https://kskinvestors.com/kelly-king Kelly King at KSK Investors] * [https://bpi.com/people/kelly-king/ Kelly King at Bank Policy Institute] * [https://www.nacdonline.org/speaker-bios/kelly-s-king/ Kelly King Bio at NACD]
{{DEFAULTSORT:King, Kelly}} Category:1948 births Category:Living people Category:American bankers Category:American chief executives Category:East Carolina University alumni Category:Rutgers University alumni Category:People from Raleigh, North Carolina