BB&T and SunTrust announced a blockbuster merger that will create the sixth-largest bank in the United States. The $66 billion all-stock merger will see the combined entity serve more than 10 million U.

S. households. Also noteworthy is that this deal is the first of this magnitude since the infamous 2008 financial crisis. BB&T-SunTrust Merger Likely Means Employee Layoffs The deal, while being called a merger, entails BB&T acquiring SunTrust. SunTrust is moving its Atlanta operations to Charlotte, NC where BB&T is based. Charlotte will be the new headquarters. Bill Rogers is the CEO and Chairman of SunTrust, while Kelly King

The post Why the $66 Billion BB&T-SunTrust Merger is the First of Many Banking Shakeups appeared first on CCN

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