PROVIDENCE, R.I.--(BUSINESS WIRE)--Citizens Financial Group, Inc. [NYSE: CFG] today announced a definitive agreement to purchase the assets of Trinity Capital, a Los Angeles-based advisory firm that delivers a range of financial services to commercial clients. This transaction, which follows several other recent moves by Citizens to add key talent and solutions, further strengthens Citizens’ growing advisory capabilities.
“The addition of the Trinity Capital team expands our ability to act as a trusted strategic and financial partner,” said Ted Swimmer, head of corporate finance and capital markets for Citizens Commercial Banking. “Trinity adds deep expertise in the restaurant, retail, food and beverage, and agricultural sectors while strengthening our overall coverage nationally.”
“We share Citizens’ commitment to providing exceptional solutions and look forward to delivering the bank’s broad set of capabilities to our growing client base,” said Trinity Capital Managing Director Kevin Burke, who founded the firm in 2000.
Since 2000, Trinity Capital has closed more than 500 transactions. The firm focuses on providing financial advice to middle-market businesses on debt restructuring, leveraged and management buyouts, and private placements of debt and equity.
The transaction will be funded with cash and is expected to close later this quarter subject to regulatory approval. Under the terms of the agreement, Citizens’ wholly-owned subsidiary, Citizens Capital Markets, Inc. (“CCMI”), will purchase the assets of Trinity Capital and upon closing, Trinity Capital will operate as a division of CCMI. Terms of the transaction were not disclosed.
For more information about Citizens, visit the Citizens Commercial Banking website. For more information about Trinity Capital, visit their website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $165.7 billion in assets as of December 31, 2019. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,700 ATMs and approximately 1,100 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
Forward-looking statements
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