Truist hires JPMorgan’s Sal Karakaplan to head new Enterprise Payments Group
Truist Financial Corp. has hired Sal Karakaplan to head its newly formed Enterprise Payments Group, which will be responsible for driving and executing a coordinated strategy across Truist’s various payments businesses.
Karakaplan is joining Truist from JPMorgan, where he has been an executive director of integrated payments strategy since March 2015, according to the press release and Karakaplan's LinkedIn page. His more than 20 years of experience include 10 years in various executive roles at Mastercard and Mastercard Advisors in corporate development, consulting and in mobile money. Karakaplan also spent six years as a vice president at PNC Financial Services.
The new role will include enabling the delivery of next generation payment products and services as well as the infrastructure to meet clients’ needs and drive financial performance.
"As the sixth largest bank in the country, Truist has a tremendous opportunity to build upon its newfound scale and bring innovative payment solutions to its clients," said Karakaplan in the release. "I'm thrilled to be joining the team and eager to help Truist succeed in its efforts to advance its positioning in the payments landscape."
Truist was created when BB&T Corporation and SunTrust Banks completed their merger in December 2019. Truist is the sixth-largest commercial bank in the U.S., with total assets of $499 billion as of September 30, 2020.
Karakaplan has an MBA from Penn State University and a bachelor’s degree in industrial engineering from University of Houston.