NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

MOVES-RBC hires Wells Fargo retail investment banker Mell

Published 2016-07-20, 09:05 a/m
© Reuters.  MOVES-RBC hires Wells Fargo retail investment banker Mell
CSGN
-
WFC
-
UNFI
-
RY
-

By Lauren Hirsch

July 20 (Reuters) - Royal Bank of Canada ( RBC ) RY.TO has hired David Mell from Wells Fargo (NYSE:WFC) & Co WFC.N to be a managing director in its investment banking consumer and retail group in New York, an RBC spokeswoman said.

Mell, who starts this week, is one of several new hires RBC has made in recent months, as it expands its U.S. consumer and retail investment banking practice, the spokeswoman said on Tuesday.

Reuters previously reported RBC had hired two new group heads of its U.S. consumer and retail practice, Andrew van der Vord and David Frank, from Credit Suisse Group AG CSGN.S and Wells Fargo respectively L2N18F23F .

"RBC is increasingly focused on providing U.S. clients with access to global M&A opportunities," said Frank, who also started this week. "The consumer and retail sectors are two of the active sectors in which the firm sees the opportunity to grow."

Mell, who will report to Frank, will focus on advising retail and food distribution companies. His most recent advisory role was the sale of Haddon House Food Products to food distributor United Natural Foods , Inc. UNFI.O

Recent M&A advisory roles for RBC in the sector include home improvement retailer Lowe's Companies Inc's LOW.N $2.4 billion acquisition of smaller home improvement retailer RONA inc, which closed in May.

Year to date, RBC has jumped from 13th to sixth in league table rankings for US consumer and retail M&A, compared with the same period a year ago, according to Thomson Reuters data.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.