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Truist Securities names Craig Mineard Co-Head of TMT Investment Banking. Wednesday, July 29th, 2026 Truist Securities today announced the appointment of Craig Mineard as Managing Director and Co-Head of Technology, Media, and Telecom (TMT) Investment Banking. Mineard joins Co-Head Thomas Wilson in leading the firm's industry coverage team, strengthening its position in the sector. "As infrastructure expansion, artificial intelligence integration, and cross-sector convergence continue to reshape the market, expanding our talent base is critical in scaling our platform to meet our clients' evolving needs," said Tom Hackett, Chairman & Chief Executive Officer, Truist Securities. "Craig and Tom bring deep sector expertise, strong relationships, and a proven record of advising companies through complex transactions. The addition of their leadership further strengthens and enhances our ability to deliver the insights, capabilities, and execution our clients need to succeed in a rapidly changing market." With more than 25 years of experience, Mineard joins Truist Securities from Jefferies, where he most recently served as Global Joint Head of Media, Communications, and Information Services Investment Banking. While at Jefferies, he helped build one of the leading franchises advising Data and Information Services companies in the U.S. and Europe. Based in New York, Mineard brings deep client relationships and a strong history of origination and execution in the Media and Technology sectors across middle market and large cap M&A advisory and capital markets. "Truist Securities has built a strong, client-centered investment banking platform with deep industry expertise and a clear commitment to growth," said Mineard. "I'm excited to join Tom Wilson and the broader team to help expand our TMT coverage, deepen client relationships, and deliver thoughtful strategic advice and execution to companies navigating a rapidly evolving market." Wilson, who joined the firm as Co-Head of TMT in May, has more than 25 years of experience. He held multiple leadership roles over the past eight years at Jefferies, most recently serving as Managing Director within the TMT Investment Banking group, helping to drive M&A and capital markets origination and execution across a variety of sectors. "The TMT landscape is rapidly evolving, so clients need differentiated advice and strong execution more than ever," said Wilson. "Truist Securities is well positioned to help clients evaluate opportunities and execute on their most important strategic priorities. Having worked with Craig for the past nine years, I'm excited to partner with him to accelerate the strong momentum we have across our TMT franchise." Truist Securities is the corporate and investment banking platform of Truist Financial Corporation (NYSE: TFC), a purpose-driven financial institution delivering advice and expertise to clients with care. Its TMT franchise focuses on key sectors including Artificial Intelligence, Infrastructure and Cyber Software, Application Software, FinTech, Information Services, IT/Tech Services, Internet and Digital Media, Local Media, Broadband and Fiber, Digital Infrastructure, and Music and Entertainment. Truist Securities is part of the Truist Wholesale Banking segment which provides comprehensive solutions to commercial, corporate, institutional, and high-net-worth clients through a combination of regional coverage and industry-focused teams serving clients across the U.S.

Safety Insurance to be acquired by Mapfre in $1.54 billion all-cash transaction. The acquisition is expected to close during the first quarter of 2027, subject to customary closing conditions and regulatory approvals. Published on July 27, 2026 Safety Insurance Group Inc. has entered into a definitive agreement under which an affiliate of Mapfre S.A. will acquire the Massachusetts-based property and casualty insurer in an all-cash transaction valued at approximately $1.54 billion. The agreement values Safety common shares at $105 per share in cash, representing a 44% premium over the company's stock price as of July 23, 2026. The companies said the transaction combines two insurers with shared commitments to underwriting discipline, customer service, and long-term value creation. Transaction details. The boards of directors of both Safety and Mapfre have approved the transaction. The acquisition is expected to close during the first quarter of 2027, subject to customary closing conditions and regulatory approvals. These include prior approval from the Massachusetts Commissioner of Insurance and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Once the transaction closes, a subsidiary of Mapfre U.S.A. Corp. will merge with and into Safety. Safety will then become a wholly owned subsidiary of Mapfre U.S.A. Corp. and a sister company to Mapfre U.S.A. Corp.'s other U.S. subsidiaries. Operations to continue under Safety brand. According to the announcement, Safety will continue operating under its established brand after the transaction is completed. The company said it plans to preserve its identity, relationships with policyholders and independent agents, and its local market capabilities across New England. The announcement also states that Safety will gain access to the scale, resources, and support of a global insurance group while maintaining its regional expertise. Safety Chairman and Chief Executive Officer George Murphy said the transaction marks a new chapter for the company. He said Safety has built its business on underwriting discipline, relationships with agents and clients, and a commitment to the communities it serves. Murphy also said Mapfre shares Safety's long-term vision and insurance culture. He said the combined organization will be positioned to invest in employees, strengthen capabilities, expand product offerings, and continue serving clients and distribution partners. Focus on policyholders, agents, and employees. The companies said the transaction is intended to provide Safety with greater financial strength, broader insurance expertise, and enhanced technological capabilities. According to the announcement, these resources are expected to support continued innovation, strengthen customer service, and create additional opportunities for employees. Safety also said its management team will continue to play an important role in the business following the acquisition. The company stated that leadership will help guide the next phase of the organization while maintaining its commitment to policyholders, independent agents, and local communities throughout New England. Advisory firms. Jefferies LLC is serving as Safety's sole financial advisor for the transaction. DLA Piper LLP (US) is serving as the company's outside legal advisor. Get the latest insurance market updates and discover exclusive program opportunities at ProgramBusiness.com. Are you a retail Agent Looking for a Quote? Coverage, Keyword, or Company

Cleveland-Cliffs names ceo's son president, lifts pay to $1M. Cleveland-Cliffs promoted Chief Financial Officer Celso Goncalves, the 38-year-old son of Chairman and Chief Executive Lourenco Goncalves, to president and to a board seat, lifting his salary to $1,000,000 and his severance period to three years, according to a Form 8-K filed with the SEC. The Market Context in 60 Seconds * 01 Cleveland-Cliffs told the Securities and Exchange Commission that on July 21 its board named Chief Financial Officer Celso L. Goncalves Jr., age 38, president of the steelmaker and seated him as a director, both effective immediately. * 02 Chairman and Chief Executive Lourenco Goncalves keeps both of those roles but gives up the president title, and the filing states in plain language that Celso Goncalves is his son. * 03 Celso Goncalves has been chief financial officer since 2021 and joined the company in 2016 from investment banking positions at Deutsche Bank and Jefferies. He keeps the finance job alongside the new one. * 04 Two pay changes took effect the same day. Base salary rises from $884,000 to $1,000,000, and the continuation period in his change-in-control severance agreement goes from two years to three. * 05 The board acted on Tuesday, July 21, and the report reached the SEC after the close on Friday, July 24, three business days later and still inside the four-day window the rule allows. One executive, three titles. Cleveland-Cliffs, the Ohio steelmaker whose common shares trade on the New York Stock Exchange as CLF, disclosed the change in a Form 8-K filed on Friday. The board acted on July 21 and handed Celso L. Goncalves Jr. two new jobs at once. He becomes president while remaining chief financial officer, and he joins the board as a director. All of it took effect immediately. Lourenco Goncalves stays on as chairman and chief executive. What he gives up is the president title, which he had been holding alongside the top job. The filing does not explain why the board made the change, sets no timetable, and uses no succession language. It records what was decided and when. The document then does what an Item 5.02 disclosure is built to do, which is to put the relationships and the money on the record. Celso Goncalves, age 38, has been executive vice president and chief financial officer since 2021 and has worked at Cleveland-Cliffs since 2016. Before that he held investment banking positions at Deutsche Bank and Jefferies. As an employee director he receives no additional compensation for board service, so the two operating titles carry all of his pay. The severance line the promotion headline leaves out. The board's compensation and organization committee approved two changes, both effective July 21. The first is the one a headline can hold. Celso Goncalves' annual base salary rate goes from $884,000 to $1,000,000, an increase of $116,000, and the higher rate also feeds the calculation of his 2026 annual cash incentive award. The second is quieter and larger. The committee raised the effective continuation period under his change-in-control severance agreement from two years to three. A continuation period is the multiple that sizes what an executive is owed if the company is sold and he loses his job. Moving it from two to three lifts that multiple by 50%, and unlike a salary line it costs the company nothing unless Cleveland-Cliffs changes hands. One paragraph carries a $116,000 raise. The next one carries an extra year of severance. Around those numbers the company files the disclosures the rules require. There are no arrangements or understandings with any other person under which Celso Goncalves was appointed. There are no transactions above $120,000 in which he holds a direct or indirect material interest beyond what the filing describes. And in the flattest sentence in the document, Cleveland-Cliffs states that Celso Goncalves is the son of Lourenco Goncalves, the chairman and chief executive officer of the company. What to watch. 1. The clock on the filing. The board acted on Tuesday, July 21, and the report reached the SEC after Friday's close on July 24, three business days later, with the four-business-day deadline Item 5.02 sets still a session away. A company that wanted this read during a trading session had three earlier chances to file it. 2. The proxy statement. The 8-K points to the definitive proxy Cleveland-Cliffs filed on April 2, 2026 for the fuller description of the plans and agreements Celso Goncalves participates in. That document, and the one that follows it next spring, are where the change-in-control arithmetic becomes legible rather than referenced. 3. Whether the title travels further. Lourenco Goncalves kept chairman and chief executive, and the filing names no successor to either. The next Item 5.02 report from Cleveland-Cliffs is the document that would say more, and there is nothing in this one that predicts when it arrives. Verified as of July 25, 2026.