RBC Capital Markets to Build up Its US Public Power Finance Business

The corporate and investment banking arm of RBC, the Royal Bank of Canada, is growing its US Municipal Finance Public Power group, including the addition of five new high level hires.

RBC Capital Markets today announced that Harris Kretsge has joined the firm as a managing director and head of the team. A 25-year veteran of the industry, Kretsge is one of the leading bankers in public power and a nationally recognized expert in providing financial and strategic solutions to municipally-owned and cooperative electric utilities.

Most recently, Kretsge built and led the industry's top-ranked Public Power group, as the head of the Energy and Environment Group at JP Morgan.

Paul Neuhedel, who was also at JP Morgan and Todd Holder from Citigroup have also joined RBC as Managing Directors in the public power team. Neuhedel

The three new additions join RBC's current Public Power team in New York while two other new hires, managing directors Garth Salisbury will be in San Francisco and Scott Perlman will be in Cincinnati.

RBC Capital Markets' municipal markets group employs more than 345 people in 26 cities. Last year it ranked seventh for senior managed negotiated transactions.