Truist Financial Corporation (NYSE: TFC) appointed Catherine Bessant to its board of directors, the Charlotte-based bank announced. Bessant will serve on the board's risk committee.

Bessant most recently served as CEO of Foundation For The Carolinas, one of the largest community foundations in the U.S. She was inducted into American Banker's "Most Powerful Women in Banking" Hall of Fame in 2020 after multiple years ranked number one for industry influence and execution.

Prior to her foundation role, Bessant completed a four-decade career at Bank of America, retiring as vice chair of global strategy and member of the executive management team. She previously served as chief operations and technology officer, leading business continuity and information security strategies.

During her Bank of America tenure, Bessant held senior leadership positions including president of global corporate banking, global product solutions and global treasury services, chief marketing officer, and president of consumer real estate and community development banking.

"We're delighted to welcome Cathy, with her deep experience in financial services and philanthropy to the Truist board of directors," said Truist Chairman and CEO Bill Rogers. "Cathy's impressive track record of purpose-driven leadership and successful digital, technology and operational transformation on a global scale will serve Truist, our teammates, clients and stakeholders well."

Bessant currently serves on the board of directors of Zurich Insurance Group and sits on the advisory board for the University of Michigan Ross School of Business, where she is a graduate. She previously chaired the USA Field Hockey board of directors.

Truist Financial Corporation reported total assets of $549 billion as of March 31, 2026, according to the press release statement.