CHARLOTTE — Truist Monetary Corp. is cutting 80 personnel in its Atlanta and Memphis, Tennessee, offices following plans to exit specific segments of business enterprise, sources familiar with the matter told Bloomberg.

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The Charlotte-primarily based bank plans to exit sales and trading of mortgage-backed securities, Little Business enterprise Administration and government agency bonds, and supported solutions, Brian Boudreaux, a Truist spokesperson, confirmed to CBJ. Truist did not comment on the headcount reduction.

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“Truist Securities on a regular basis assesses possibilities for our organization and tends to make adjustments to our business enterprise to invest in regions for development,” the bank mentioned in a statement by e-mail. “We created the selection to exit specific elements of our fixed earnings sales, study, and trading business enterprise by January 2024, and will work closely with our clientele to assistance them for the duration of this transition.”

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