PwC was appointed after the board of directors voted this week to approve a recommendation by its chief financial officer and audit committee.
Andersen, the former auditor to collapsed energy giant Enron, is facing a testing time as its clients prepare for their annual general meetings where shareholders vote whether to retain the firm as auditor.
The Big Five firm was auditor at SunTrust for 60 years. The decision by SunTrust marks the biggest client defection from Andersen so far.
A company spokesman for SunTrust said its decision was in no way related to Enron.
Andersen received $1.68m (£1.17m) in auditing fees in 2000 and around $1.4m (£976,000) in consulting fees. The company is retaining Andersen for consulting purposes.
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day