RBC Capital Markets further expands U.S. investment banking
platform
Forms Industrial & Diversified Services Group, Food
& Beverage Industry Sector, Expands Healthcare Team
NEW YORK, February 20, 2007 — RBC Capital Markets
today announced that it has further bolstered its U.S. Global
Investment Banking Group with the formation of an Industrial
& Diversified Services Group, a Food & Beverage industry
sector within its Consumer Group, and the expansion of its
Healthcare Group.
Thomas Tullo has been appointed to head the firm's U.S. Industrial
& Diversified Services Group; G. Torrey Rossetter and
Robert Sarlls lead the Consumer Food & Beverage team;
and Daniel Schnurman joins the Healthcare Group as a Director.
All four are based in New York.
"These industries are growth areas, particularly in
the middle market and emerging growth spaces where we are
focused," said Peter de Vos, RBC Capital Markets' Head
of U.S. Investment Banking. "RBC has the experience and
the financial strength to make a real contribution to companies'
growth in these sectors. The breadth of expertise these new
hires bring, will be of tremendous benefit to our clients
as we continue to build upon our strong North American investment
banking franchise."
Tullo joins RBC Capital Markets as a Managing Director from
Needham & Company, where he led the firm's Industrial
& Diversified Growth Group. Prior to that, he was co-head
of the Industrial Manufacturing Group at ING Barings. Tullo's
two-plus decades of industry experience includes extensive
work on cross-border and domestic mergers and acquisitions,
IPOs and leveraged acquisitions.
With the formation of the new group, Tullo assumes responsibility
for RBC's Electronics Manufacturing Supply Chain activities
and will further expand the Firm's leadership in three additional
strategic vertical markets: Industrial Manufacturing (including
filtration, flow control, building products, electrical products
and capital equipment); Services (environmental services,
industrial distribution and logistics solutions) and the rapidly
growing area of Marking, Sensing and Tracking Technologies.
Rossetter and Sarlls were most recently Managing Directors
at Strategic Food Capital Partners, a private equity firm
focused exclusively on the food industry. Previously, both
were with the investment banking and LBO/Private Equity Sponsors
group of Rabobank, the largest financial institution in the
world focused on food. Rossetter joins RBC as a Managing Director,
Sarlls as a Director.
Rossetter's vast array of experience has led him to advise
companies in every major sector of the food industry - from
food input companies, including food equipment and food ingredient
companies - to food manufacturers, beverage producers, food
distributors, food retailers and food service companies.
Sarlls' more than 15 years of food industry experience encompasses
all major sectors and over 55 industry segments, including
grocery wholesaling, supermarkets, agribusinesses, beverages,
dairy products, wine and spirits, and contract manufacturing,
among others.
Schnurman was most recently a Director at Credit Suisse,
where he focused on the Life Sciences industry. His primary
responsibility at RBC will be to spearhead the firm's efforts
in the Specialty Pharmaceuticals sector. He will report to
the U.S. Healthcare Investment Banking Group co-heads, Kevin
Davies and Simon Gill.
About RBC Capital Markets
RBC Capital Markets is the corporate and investment banking
arm of RBC and is active globally in fixed income, foreign
exchange, infrastructure finance, structured products, metals
and mining, and energy. Its North American equity underwriting,
sales, trading and research business leads the Canadian market
and supports a significant and growing franchise in the U.S.
middle market. The firm's international fixed income, structured
products and treasury businesses are managed from London,
which is the centre of a 24-hour trading platform with major
hubs in Toronto, New York and Sydney. Bloomberg ranks the
firm as one of the Top 20 investment banks globally. In terms
of assets, RBC is the sixth-largest bank in North America.
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For further information, please contact:
Kevin Foster, RBC Capital Markets, (212) 428-6902, kevin.foster@rbccm.com
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