The Bank Slate


CItizens buying investment bank focused on digital infrastructure

Citizens Financial Group in Providence, R.I., has agreed to buy DH Capital, an investment banking firm in New York. 

DH Capital, which also has an office in Boulder, Colo., serves companies in the Internet infrastructure, software and next-gen IT services, and communications sectors. 

The $170 billion-asset Citizens did not disclose the price it paid. 

DH Capital has completed more than 200 M&A transactions totaling about $35 billion in value. 

“The DH Capital team brings us deep expertise in the digital infrastructure sector, a key and ongoing area of opportunity in today’s highly dynamic commercial market,” Donald McCree, vice chairman and head of commercial banking at Citizens, said in a Wednesday press release. 

Citizens earlier this year bought JMP Group and Willamette Management Associates to expand its corporate advisory team. 

The deal is expected to close in the first quarter. 

Willkie Farr & Gallagher advised Citizens. Keefe, Bruyette & Woods and Mayer Brown advised DH Capital.

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