RBS Citizens and Oppenheimer & Co. Inc. (“Oppenheimer”) today announced that they have entered into a formal referral agreement, making it easier for the middle market clients of each institution to develop financial strategies that encompass both commercial and investment banking products and services.
Under this agreement, RBS Citizens clients requiring financial advisory and equity capital markets services can be introduced to Oppenheimer and Oppenheimer clients in need of traditional banking products and services like debt syndications and extensions of credit can be introduced to RBS Citizens. The new collaborative agreement combines the relationship and commercial banking strengths of RBS Citizens with the financial advisory and equity capital markets strengths of Oppenheimer, creating a powerful advantage for the clients of both firms.
The firms have already begun the collaboration process, resulting in the successful consummation of financing and advisory transactions on behalf of clients.
“More and more middle market companies are looking to engage in merger, divestiture or acquisition activities and to access public equity markets,” said Robert Matthews, Head of RBS Citizens Commercial Banking and Vice Chairman, RBS Citizens Financial Group, Inc. “Combining our existing strengths with Oppenheimer enables us to provide RBS Citizens clients with the full breadth and depth of capabilities necessary to advise and finance these strategic objectives. At the same time, we look forward to providing Oppenheimer’s clients with our highly regarded and comprehensive suite of commercial banking products and services developed especially for the middle market.”“We are very pleased to have joined forces with RBS Citizens to be able to address the financing needs of our corporate clients seeking needed credit for growth and other corporate purposes as well as other banking products and solutions,” said Albert (Bud) Lowenthal, Chairman and Chief Executive Officer of Oppenheimer & Co. Inc. RBS Citizens is a leading commercial bank and a Top 10 arranger of middle market syndicated loans. The bank supports commercial banking relationships with more than 3,000 U.S.-based middle market companies. Oppenheimer is the second largest independent U.S. broker-dealer and a recognized leader in investment banking that delivers strategic financial advisory and capital markets services to middle market companies – a core market for RBS Citizens. Since 2004, Oppenheimer has raised more than $85 billion through the completion of over 150 equity or equity linked transactions on behalf of its middle market clients. Oppenheimer has also completed over 250 merger and acquisition transactions representing over $106 billion in value during that same time period.