Podesta & Co., a Chicago-based investment banking firm, has formed an financial institutions group that will focus on small-cap banks and thrifts in the Midwest and California.

The group, which consists of Christopher R. Raffo and David B. Moore, will conduct research on companies that are undergoing dramatic turnarounds and those that are ignored by analysts, said Carol Podesta Foley, president and CEO of Podesta & Co.

Mr. Raffo had spent the past six years at Chicago-based Howe Barnes Investments Inc.

Mr. Moore had been in the Chicago office of Hovde Financial Inc., a Washington, D.C.-based investment firm.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.