Friday 14 February 2020

14 February 2020 - Rhode Island, US-based Citizens Financial Group, Inc. (NYSE: CFG) has agreed to acquire the assets of Los Angeles-based financial services advisory firm Trinity Capital, to strengthen advisory capabilities with additional sector expertise, the company said.
The transaction will be funded with cash and is expected to close later this quarter subject to regulatory approval.
Under the terms of the agreement, Citizens' wholly-owned subsidiary, Citizens Capital Markets, Inc. (CCMI), will purchase the assets of Trinity Capital and upon closing, Trinity Capital will operate as a division of CCMI.
Additional terms of the transaction were not disclosed.
This transaction, which follows several other recent moves by Citizens to add key talent and solutions, further strengthens Citizens' growing advisory capabilities.
Citizens Financial Group, Inc. is a financial institution, with USD 165.7bn in assets as of December 31, 2019.