NEW YORK - MTB Banking Corp., a trade finance bank, formed an investment banking unit for the small and medium-size companies in which the bank specializes.
The unit will be headed by Richard Sandulli, who led the merger and acquisition advisory group at Nippon Credit Bank.
The MBT unit is expected to have a staff of fewer than 10 people. "Midsize companies are finding an unfriendly welcome from large investment bankers," said Fredric Tordella, MTB president. Investment banking requires "a high degree of personal attention, which is very costly to larger operations."
