F.N.B. Corp. in Pittsburgh has agreed to buy Pittsburgh investment bank Raptor Partners.
F.N.B. did not disclose the price it will pay for Raptor, which focuses on M&A, corporate finance, valuation advisory and private capital raising. The deal is expected to close in the second quarter.
“The addition of investment banking rounds out our offerings, enabling FNB to provide clients with advisory services throughout their entire business life cycle,” Vincent Delie Jr., F.N.B.’s chairman, president and CEO, said in a press release.
“We believe this is an opportune time to invest in FNB’s investment banking platform to advise our middle market and large corporate clients given the scale of our company and the changing economic outlook,” Delie added.
Craig Wolfanger, Raptor’s founder and president, will join FNB as managing director and head of investment banking.