Truist Securities Expands Advisory Unit with Senior Insurance and Healthcare Hires

Truist Financial Corp. (NYSE:TFC) is strengthening its investment banking team with three senior appointments focused on insurance and healthcare sectors, as reported by Bloomberg on Tuesday.

Cem Altuntas joined Truist Securities this week as head of insurance brokers and services, according to an internal company memo reviewed by Bloomberg News. Altuntas previously worked with Guy Carpenter's capital and advisory team and held positions at UBS Group AG (NYSE:UBS) and Moelis & Co. (NYSE:MC).

Jeffrey Davis has been brought in as a managing director concentrating on healthcare. Davis spent 11 years at Jefferies Financial Services Group Inc. (NYSE:JEF) and earlier worked at Duff & Phelps.

The regional bank also recruited Ken Thompson as managing director and head of FIG investment grade debt capital markets. Thompson previously served at Citigroup Inc. (NYSE:C).

These hires are part of Truist's broader initiative to expand its advisory business, which has primarily served middle-market clients.

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