Regions Bank is courting the contracting industry. The financial institution announced this week the formation of a technology and defense banking group.
The specialty banking group will focus on assisting technology and defense companies with advisory services, syndicated financing and dept capital to fund growth and mergers and acquisitions.
“Both technology and defense are strategically important domestic industries and companies in these sectors require financial products, services and expertise tailored to their specific needs in order to be successful,“ said Sam Tortorici, head of Commercial & Industrial banking.
Regions foray into specialized banking markets isn't limited to technology and defense. The bank also plays host to specialty banking groups designed for transportation, franchise restaurants, energy and healthcare.
Working in partnership with Morgan Keegan and its established Security and Defense Investment Banking group, Regions plans to offer its technology and defense customers investment banking, capital markets, leveraged finance and advisory services.