RBC Capital Markets recruited an M&A veteran in New York

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Toronto based investment bank RBC Capital Markets has hired Stavros Tsibiridis, a mergers and acquisitions (M&A) veteran with more than 20 years of experience.

Tsibiridis worked as a managing director, M&A at Wells Fargo for six and half years, before leaving it for RBC Capital. Prior to Wells Fargo, he served as a managing director, M&A at Citadel Securities and Citigroup for one and ten years respectively. He was also a vice president, M&A for two years at J. P. Morgan, which he joined in 1997.

Based out of New York, Tsibiridis has joined RBC Capital as a managing director in M&A at a time when the firm is struggling to grow its U.S. M&A presence.  Although RBC Capital Markets ranked first for M&A advisory revenues in Canada for 2017 according to Dealogic, it didn’t even make it to the U.S. top ten firms in the category.

When RBC announced its fourth quarter results last year, it said it plans to "expand and strengthen" client relationships in the U.S., which is its, "priority growth market."  In an interview last May, Blair Fleming head of RBC Capital Markets in the U.S. and head of U.S. investment banking, said the bank has a, "a very deliberate and straightforward strategy" to grow its U.S. operation. At that point, Fleming said RBC had already hired 10 U.S. banking MDs in 2017 and that this followed 14 hires the previous year.

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