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MarketScreener Homepage  >  Equities  >  Nyse  >  Truist Financial Corporation    TFC

TRUIST FINANCIAL CORPORATION

(TFC)
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RBC woos three senior financials bankers from Deutsche Bank

01/25/2017 | 01:13pm EST
Shareholders leave the Royal Bank of Canada's Annual General Meeting in Calgary

(Reuters) - RBC Capital Markets has hired three senior Deutsche Bank AG (>> Deutsche Bank AG) bankers who focus on advising banks, according to an internal memo from the Canadian firm.

(Reuters) - RBC Capital Markets has hired three senior Deutsche Bank AG (>> Deutsche Bank AG) bankers who focus on advising banks, according to an internal memo from the Canadian firm.

Speculation for bank mergers has increased as a surge in stock prices for financials following the U.S. election in November could make firms more likely to use their rebounding shares to pursue deals.

The hires include Americas head of Deutsche Bank's financial institutions group Venkat Badinehal. Badinehal joined Deutsche Bank in 2009 from Merrill Lynch and has worked on deals including advising BB&T Corp (>> BB&T Corporation) on its $1.8 billion acquisition of National Penn Corp and its $2.5 billion acquisition of Susquehanna Bancshares.

Badinehal will join RBC as co-head of U.S. financial institutions investment banking alongside current head Jerry Wiant, according to the memo, which was confirmed on Wednesday by an RBC spokeswoman.

Managing directors Jason Braunstein and Saurabh Monga, who also joined Deutsche from Merrill alongside Badinehal, were hired at RBC, as well.

Financials-focused M&A, which includes giving advice to banks, brokerages, insurance companies and asset managers, saw volumes fall 15.6 percent globally in 2016, according to Thomson Reuters data.

Deutsche Bank said last week it would be cutting bonuses drastically for its investment bankers for 2016 after struggling to turn a profit and facing a big bill for litigation.

(Reporting by Lauren Hirsch and Olivia Oran in New York; additional reporting by David French in New York; Editing by Alan Crosby)

By Lauren Hirsch and Olivia Oran

Stocks treated in this article : BB&T Corporation, Deutsche Bank AG

© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
JASON CO., LTD. -1.84% 694 End-of-day quote.90.66%
LINE CORPORATION 0.00% 5380 End-of-day quote.0.56%
TRUIST FINANCIAL CORPORATION 4.24% 48.97 Delayed Quote.-13.05%
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Financials (USD)
Sales 2020 22 069 M - -
Net income 2020 4 119 M - -
Net Debt 2020 - - -
P/E ratio 2020 16,0x
Yield 2020 3,68%
Capitalization 66 017 M 66 017 M -
Capi. / Sales 2020 2,99x
Capi. / Sales 2021 3,09x
Nbr of Employees 59 000
Free-Float 99,6%
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Technical analysis trends TRUIST FINANCIAL CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 47,33 $
Last Close Price 48,97 $
Spread / Highest target 16,4%
Spread / Average Target -3,34%
Spread / Lowest Target -24,4%
EPS Revisions
Managers
NameTitle
Kelly S. King Chairman & Chief Executive Officer
William Henry Rogers President, Chief Operating Officer & Director
Daryl N. Bible Chief Financial Officer & Senior Executive VP
Scott E. Case Chief Information Officer
Dallas S. Clement Independent Director
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