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RBC Capital Markets continues expansion in U.S. investment
banking
Frank Napolitano appointed head of new U.S. Power and Utilities
Group
Kevin Smith appointed head of U.S. Industrials Group
Ron Eliasek appointed co-head of U.S. Technology Group
NEW YORK, June 10, 2010— RBC Capital Markets
today announced a series of high-profile appointments within
its U.S. investment banking business, including Frank Napolitano
to head the formation of a new U.S. Power and Utilities group,
Kevin Smith as head of the U.S. Industrials group, and Ron
Eliasek as co-head of U.S. Technology investment banking.
All three are based in New York and join other recent senior
hires in product groups such as financial sponsors, leveraged
finance, high yield, M&A, equity capital markets and restructuring.
RBC has also recently formed new U.S. Transportation and Aerospace
& Defense industry groups as the firm continues to further
expand its investment bank in the U.S. and internationally.
"We are committed to expanding our U.S. investment banking
and capital markets platforms, hiring exceptional people and
bolstering our capabilities," said Blair Fleming, RBC
Capital Markets' head of U.S. Investment Banking. "We
are leveraging our traditional strengths and strong market
position to extend our strategy and expand our presence into
the mid and large cap company segments, which is consistent
with our global platform across our capital markets businesses."
The formation of RBC Capital Markets' U.S. Power and Utilities
Investment Banking group, led by Napolitano, is a natural
addition to RBC's suite of industry teams and builds on the
firm's strong global energy platform. Napolitano brings to
RBC more than 23 years of experience in the energy power and
utilities space. He previously spent 11 years at Lehman Brothers,
where he served as global co-head of the Power group and sector
head of the Wholesale Power practice and, more recently, as
global head of Commodities Sales and Origination. Prior to
joining RBC, he was most recently president of Lakeside Energy,
a Chicago-based energy investment firm.
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Smith joins RBC from the Silverfern Group, where he led the
firm's Diversified Industrial business. Previously, he was
head of the Diversified Industrials and Business Services
group at Wachovia Securities and spent more than a decade
with JP Morgan Chase prior to that. Joining Smith is Ian Woods
as a director in RBC's U.S. Industrials group, with a focus
on Building Products and Packaging. Woods joins from UBS,
where he was most recently an executive director in the firm's
Global Industrials group.
Eliasek will partner with co-head John Brew to continue to
grow RBC Capital Markets' Technology investment banking practice
and expand coverage across various industry sectors. Eliasek
brings more than 15 years of investment banking experience
to RBC, most recently as head of the Software & Systems
group for Sagent Advisors, an M&A advisory firm. Prior
to that, he served as managing director and head of Software
& Systems investment banking at Wachovia Securities, and
as an engineer at General Electric.
RBC Capital Markets has hired more than 90 senior professionals
in the U.S. in 2010. In U.S. investment banking, the firm
today announced the following additional hires, all based
in New York:
- In Loan Capital Markets/Leveraged Finance, RBC Capital
Markets continues to grow its U.S. and global platform and
retains a top-five position in the North American syndicated
and leveraged loan market. Jeff Abt joins RBC as a managing
director in the U.S. Loan Capital Markets group, and Andrew
Rosenbaum joins as a director in the U.S. Leveraged Finance
group.
- Abt brings over 20 years of experience to RBC, including
stints at Lehman Brothers and most recently at Goldman
Sachs, where he was a managing director covering a variety
of industries including Consumer and Industrials. With
RBC, Abt will cover Industrials, Consumer, Transportation,
Technology and other industries.
- Rosenbaum spent seven years with Lehman Brothers,
most recently as a senior vice president in the firm's
Global Leveraged Finance and Private Capital Markets'
investment banking group, with a focus on the Energy
sector. He joins from private equity firm Patriarch
Partners. With RBC, Rosenbaum will focus on Energy,
Power and Utilities.
- Michael Davis joins as a managing director in the Equity
Capital Markets (ECM) group, where he will have direct responsibility
for RBC's U.S. Energy coverage effort within ECM. Davis
spent a decade at Credit Suisse, where he led ECM coverage
for the Energy and Chemicals sectors. He most recently served
as assistant treasurer and vice president of Finance for
Energy Future Holdings in Dallas.
- Jon Huerta joins RBC as a director in the Aerospace &
Defense group, where he will focus on the Government Services
and Defense Technology sectors. Prior to joining RBC, Huerta
was a senior vice president at Macquarie, responsible for
starting the firm's Aviation, Aerospace & Defense advisory
practice. Previously, Huerta spent five years at Banc of
America in the firm's Aerospace, Defense and Transportation
group.
- David Archibald joins as a director in the Financial Sponsors
group, with general coverage responsibility. Archibald spent
more than 15 years with Wachovia Securities, where he was
most recently a director in the Financial Sponsors group.
Previous to that role, he spent seven years in the firm's
Consumer and Retail investment banking group.
About RBC Capital Markets
RBC Capital Markets is the corporate and investment banking
arm of the Royal Bank of Canada and is active globally in
debt and equity origination, sales and trading, foreign exchange,
infrastructure finance, and structured products across a number
of industry sectors. Its North American platform includes
a significant U.S. investment banking franchise and leading
equity and fixed income underwriting, sales, trading and research
businesses.
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For further information, please contact:
Kevin Foster,
RBC, (212) 428-6902, kevin.foster@rbccm.com
Loretta Healy,
Hubbell Group, (781) 878-8882, lhealy@hubbellgroup.com
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