Sign In  |  Register  |  About San Rafael  |  Contact Us

San Rafael, CA
September 01, 2020 1:37pm
7-Day Forecast | Traffic
  • Search Hotels in San Rafael

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Citizens Financial Group Further Expands M&A Advisory Team with Bowstring Advisors Acquisition

Citizens Financial Group, Inc. (“Citizens”) [NYSE: CFG] today announced a definitive agreement to purchase certain assets of Bowstring Advisors (“Bowstring,” formerly CHILDS Advisory Partners), an Atlanta-based merger and acquisition advisory firm that delivers a range of financial services to commercial and industrial clients nationwide. This transaction, which follows several other recent additions of key industry talent, products and solutions, further strengthens Citizens’ advisory capabilities.

“Clients view Citizens as a trusted partner committed to delivering complete solution sets, quality execution and excellent service throughout their business life cycle,” said Donald McCree, vice chairman and head of Commercial Banking. “We continue to move decisively to broaden our capabilities. The addition of the highly regarded Bowstring team more than doubles our M&A advisory business with deep knowledge in key industry sectors such as healthcare, technology and business services, while strengthening our coverage nationally and further enhancing our ability to deliver for our clients.”

“We share Citizens’ ambition to build robust advisory capabilities, as well as their commitment to exceptional client solutions. We look forward to delivering Citizens’ broad set of capital markets capabilities to our growing client base,” said Bowstring CEO Jim Childs, who founded the firm in 2009.

Bowstring will become part of Citizens Capital Markets, Inc., complementing Western Reserve Partners, which significantly increased the bank’s M&A capabilities when it was acquired in 2017. The addition of the Bowstring team will further accelerate the build out of Citizens’ M&A and financial advisory capabilities. Citizens’ recently released eighth annual Middle Market M&A Outlook noted a strong appetite among mid-sized companies for growth through M&A. This transaction further strengthens Citizens’ growing presence in the Southeast and nationally.

The transaction, which is expected to close in the first half of 2019, subject to Bowstring receiving FINRA approval, will be funded with cash. Under the terms of the agreement, Citizens’ wholly-owned subsidiary, Citizens Capital Markets, Inc. (“CCMI”), will purchase certain assets of Bowstring and upon closing, Bowstring will operate as a division of CCMI. Terms of the transaction were not disclosed.

Debevoise & Plimpton LLP acted as legal advisor to Citizens. Morris Manning & Martin, LLP acted as legal advisor to Bowstring on the transaction.

For more information about Citizens, visit the Citizens Commercial Banking website.

For more information about Bowstring, visit the Bowstring Advisors website.

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $160.5 billion in assets as of December 31, 2018. 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 2,900 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 TwitterLinkedIn or Facebook.

Forward-looking statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This communication contains “forward-looking statements” — that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” or “target.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include the failure to consummate this transaction or to make or take any filing or other action required to consummate any such transaction on a timely matter or at all. These or other uncertainties may cause our actual future results to be materially different from those expressed in our forward-looking statements.

Contacts:

Media: Peter Lucht — 781.655.2289

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SanRafael.com & California Media Partners, LLC. All rights reserved.