Synovus Financial (SNV) Barclays 23rd Annual Global Financial Services Conference summary

Strategic rationale and execution focus

• Merger of equals announced with a mixed management team and a clear path for growth, emphasizing cultural compatibility and early decision-making on leadership and operating models.

• Leadership structure, branding, and core systems were decided upfront to minimize uncertainty and ensure smooth integration.

• The Pinnacle operating and incentive compensation models will be adopted, with a focus on maintaining associate engagement and client loyalty.

• Conversion is planned for 12-14 months post-close, with a 'white glove' approach to client transition and training.

• The combined entity aims to be the Southeast's growth champion, leveraging both companies' strengths.

Growth, hiring, and business momentum

• No negative impact on business development or recruiting pipelines since the merger announcement; aggressive double-digit balance sheet growth guidance reaffirmed.

• High hiring success rate, with 58 out of 59 job offers accepted, signaling strong momentum and confidence in continued growth.

• Synovus maintains 5%-7% revenue growth and 2%-4% expense growth guidance, with a focus on sustaining momentum into 2026.

• Hiring targets include 150 revenue producers and a 30% increase in relationship managers by 2026, with expectations to incrementally increase hiring in subsequent years.

• The hiring model is network-driven, creating a multiplier effect that supports ongoing expansion.

Client and cultural integration

• Client feedback has been largely neutral, with minimal disruption as long as relationship managers remain in place.

• Rebranding to Pinnacle will occur in 2027, with gradual platform migration and ongoing communication to clients.

• Both organizations share values centered on associate engagement, client service, and community, with tactical differences in entrepreneurial approach and risk management.

• The Pinnacle incentive plan, which ties all associates' compensation to company performance, will be adopted, fostering alignment and low turnover.

• Previous acquisitions have demonstrated successful cultural integration and retention of key talent.