Adds background, analyst comment in paragraphs 3-4

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 2027.

"Given TFC’s lagging stock performance and results, an external hire is not surprising. He brings a strong track record from PNC and is viewed as a proven operator," Barclays analyst Jason Goldberg said.

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

Truist is a top 10 U.S. commercial bank with $549 billion in assets as of March 31. It was formed through the merger of BB&T and SunTrust in 2019.

"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.

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 abrupt senior leadership changes.

Fiserv's FISV.O shares slipped 6% in early trading. The stock has plunged over 67% in the past year.

The departure comes as Fiserv works on rebuilding its credibility with customers ​and investors. The firm has appointed executive Takis Georgakopoulos to replace Lyons as the CEO, effective immediately.