Daily News: July 24, 2012

RBS Citizens, Oppenheimer Announce Strategic Agreement


RBS Citizens and Oppenheimer & Co. Inc. announced that they have entered into a formal referral agreement, making it easier for the middle-market clients of each institution to develop financial strategies that encompass both commercial and investment banking products and services.

Under this agreement, RBS Citizens clients requiring financial advisory and equity capital markets services can be introduced to Oppenheimer, and Oppenheimer clients in need of traditional banking products and services like debt syndications and extensions of credit can be introduced to RBS Citizens. The new collaborative agreement combines the relationship and commercial banking strengths of RBS Citizens with the financial advisory and equity capital markets strengths of Oppenheimer, creating a powerful advantage for the clients of both firms.

The firms have already begun the collaboration process, resulting in the successful consummation of financing and advisory transactions on behalf of clients.

“More and more middle-market companies are looking to engage in merger, divestiture or acquisition activities and to access public equity markets,” said Robert Matthews, head of RBS Citizens Commercial Banking and vice chairman, RBS Citizens Financial Group, Inc. “Combining our existing strengths with Oppenheimer enables us to provide RBS Citizens clients with the full breadth and depth of capabilities necessary to advise and finance these strategic objectives. At the same time, we look forward to providing Oppenheimer’s clients with our highly regarded and comprehensive suite of commercial banking products and services developed especially for the middle market.”

“We are very pleased to have joined forces with RBS Citizens to be able to address the financing needs of our corporate clients seeking needed credit for growth and other corporate purposes as well as other banking products and solutions,” said Albert (Bud) Lowenthal, chairman and CEO of Oppenheimer & Co.

RBS Citizens is a commercial bank and arranger of middle-market syndicated loans. According to the 2012 M&A Outlook Survey developed by RBS Citizens, current economic conditions favor an active middle-market M&A environment in the months ahead. The survey indicated that half of the more than 400 middle-market executives surveyed described themselves as ‘”active or very active” in M&A. One in three of the executives surveyed said they were likely to acquire a significant asset in 2012.

Oppenheimer Holdings Inc., through its principal subsidiaries, Oppenheimer & Co. Inc. (a U.S. broker-dealer) and Oppenheimer Asset Management Inc., offers a wide range of investment banking, securities, investment management and wealth management services.