Sept. 17--BB&T Corp. has put more emphasis on a budding national corporate-banking strategy with Tuesday's announcement of adding a divisional team in Chicago.
The bank, based in Winston-Salem, says it remains committed to a mid-Atlantic, Southeast and Texas focus for its branch strategy even though there has been analyst expectation of it entering the Midwest through Kentucky as a launching pad.
The bank's Capital Markets division has opened a four-member corporate-banking team in Chicago as one method for raising awareness of BB&T's brand in the market beyond insurance and mortgages.
"The hiring of these seasoned corporate bankers continues the acceleration of our national growth strategy," said Kelly King, BB&T's chairman and chief executive.
"We believe that BB&T's relationship-based, values-driven approach along with a strong balance sheet will resonate solidly with clients in the Midwest," King said.
Rufus Yates, president and chief executive of BB&T Securities, said the Chicago office will serve as the base of our national effort to serve the needs of companies in the food, agribusiness and beverage industries.
The four leaders of the Chicago office, led by Michael Laurie, will concentrate on those three industries.
Other corporate banking teams for BB&T are in Cincinnati, Dallas and San Francisco.
"We continue to invest in the wealth-management area, making targeted investments in certain key markets," such as Dallas, King said during the bank's second-quarter earnings report in July.
"We've added multiple investment in our advisers in Texas, Florida, North Carolina, added other offices in some of our key states like North Carolina, South Carolina and Virginia. We did open a new broker dealer office in Maryland and Florida."