Truist Securities Hires Senior Bankers to Expand Insurance and Healthcare Advisory

Truist Financial Corp. is expanding its investment banking division with three senior hires focused on the insurance and healthcare sectors, according to a Bloomberg report citing an internal memo. The appointments signal a strategic effort by Truist Securities to build out its advisory business for middle-market clients.

Key Appointments Detailed

The firm has brought on experienced bankers from several major financial institutions to lead key industry and product groups. The new managing directors include:

• Cem Altuntas has joined as head of insurance brokers and services. Altuntas previously worked with Guy Carpenter’s capital and advisory team and held positions at UBS Group AG and Moelis & Co.
• Jeffrey Davis was appointed as a managing director focusing on healthcare. He joins after spending 11 years at Jefferies Financial Services Group Inc. and previously worked at Duff & Phelps.
• Ken Thompson was recruited as managing director and head of FIG (Financial Institutions Group) investment grade debt capital markets. Thompson joins from Citigroup Inc.

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Strategic Push in Advisory

These hires are part of Truist's ongoing strategy to enhance its advisory capabilities and compete for a larger share of investment banking mandates. By adding senior talent with deep sector expertise, the firm aims to strengthen its offerings in high-growth areas like healthcare and specialized financial services.

For investors, the expansion underscores Truist's commitment to diversifying its revenue streams beyond traditional banking. The focus on the middle-market positions the firm to serve a segment that is often a source of consistent deal flow in mergers, acquisitions, and capital raising activities.