June 15 (Reuters) - Truist Financial TFC.N has named former Fiserv FISV.O chief executive Michael Lyons as its next president and CEO, effective September 1, the U.S. bank said on Monday.

Lyons will succeed Truist veteran Bill Rogers, who has served as the CEO of the Charlotte, North Carolina-based bank since 2021.

Rogers will assume the executive chair role until his planned retirement in April 2027.

Truist is a top 10 U.S. commercial bank with $549 billion in assets as of March 31. It offers a wide range of services including consumer and small business banking, investment banking, wealth management, and payments.

"We view TFC’s decision to hire externally as a potential signal the board is seeking objective insight from outside of the company – and could lead to a more front-footed posture," Evercore analyst John Pancari said.

ANOTHER LEADERSHIP CHANGE AT FISERV

The appointment marks the return of Lyons, 55, to the banking landscape after a brief stint at payments firm Fiserv.

Prior to Fiserv, Lyons was the president of PNC Financial PNC.N. He spent more than a decade at the U.S. regional lender and helped lead more than $15 billion of acquisitions and the expansion of the bank's geographic footprint.

Lyons' exit marks the latest upheaval at Fiserv, which is pursuing a turnaround plan after a difficult 2025 marked by a major reset to its growth expectations and the fallout from abrupt senior leadership changes.

Fiserv's FISV.O shares slipped roughly 9% in early trading. The stock has plunged over 67% in the past year.

The firm has appointed executive Takis Georgakopoulos to replace Lyons as the CEO, effective immediately.

The departure comes as Fiserv works on rebuilding its credibility with customers ​and investors. Activist Jana Partners earlier this month urged the firm to aggressively pursue non-core divestitures and expanding the board's refreshment process.