COLUMBUS, Ohio, March 15, 2016 /PRNewswire/ -- The National Center for the Middle Market (NCMM) has announced SunTrust Banks, Inc. (NYSE: STI) as its new primary sponsor. The multi-year agreement will enable the NCMM to continue providing insights and analyses that drive growth, jobs and competitiveness in the middle market, and ultimately, the overall U.S. economy.
The NCMM has also signed a multi-year agreement with accounting, tax and advisory organization Grant Thornton, a leading U.S. professional-services firm. The collective sponsors will join The Ohio State University Fisher College of Business—a founding partner of the NCMM—in determining the strategic direction of the NCMM moving forward.
"On behalf of Fisher College of Business, I am delighted to see the National Center for the Middle Market building a strong partnership with SunTrust and Grant Thornton, which are both recognized leaders in their industries," said Anil K. Makhija, dean and John W. Berry, Sr. Chair in Business at Fisher. "These mutually beneficial collaborations underscore the Center's commitment to providing critical insights and analyses that drive growth, increase competition and create jobs in the middle market, the market that moves America."
Throughout the year, the NCMM hosts and participates in a number of events, in addition to funding research reports, which includes its flagship quarterly Middle Market Indicator. Areas of critical focus in the past year include digitization, innovation, mergers and acquisitions, and access to capital, among many other topics that consequently help drive growth in the middle market.
"SunTrust is dedicated to providing industry and product expertise to develop tailored solutions that help middle market companies across the nation achieve smart growth. It's only natural for us to partner with this leading institution and focus our collective efforts on additional opportunities to grow this vital part of our nation's economy," said Mark A. Chancy, wholesale banking executive for SunTrust.
The U.S. middle market is a key driver of the U.S. economy, consisting of 200,000 companies with annual revenues between $10 million and $1 billion. Together, they account for 44.5 million jobs, or one third of total private employment, generating more than $10 trillion in combined revenues annually. In the next 12 months, the NCMM projects the segment's growth to continue to drive the economy, with revenue expanding by 3.7 percent and employment growing 2.7 percent.
"We are deeply pleased to be linking arms with SunTrust and Grant Thornton," said Thomas A. Stewart, executive director of the NCMM. "Their expertise in financial and advisory services is a real asset to us and the middle market. It will greatly enhance the NCMM's work and further our mission."
About the National Center for the Middle Market (NCMM) The National Center for the Middle Market is a partnership of The Ohio State University Fisher College of Business, SunTrust Banks, Inc. and Grant Thornton LLP. The Center was founded in 2011 and is the nation's leading research institution dedicated to helping middle market companies to be more competitive through research, advocacy and educational initiatives. To learn more about the Center visit www.middlemarketcenter.org.
About The Ohio State University Fisher College of Business From business as usual to business unusual, The Ohio State University Fisher College of Business prepares students to go beyond and make an immediate impact in their careers through top-ranked programs, distinguished faculty, and a vast network of partnerships that reaches from the surrounding business community to multinationals, nonprofits and startups across the globe. Our students are uniquely prepared and highly sought, leveraging Fisher's rigorous, experiential learning environment with the resources of Ohio State, a premier research university with 500,000 proud Buckeye alumni.
About SunTrust SunTrust Banks, Inc. (NYSE: STI) is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses and communities it serves. Headquartered in Atlanta, the company has three business segments: Wholesale Banking, Consumer Banking & Private Wealth Management, and Mortgage. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate and institutional clients nationally. As of December 31, 2015, SunTrust had total assets of $191 billion and total deposits of $150 billion. The company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com.
About Grant Thornton LLP Founded in Chicago in 1924, Grant Thornton LLP (Grant Thornton) is the U.S. member firm of Grant Thornton International Ltd, one of the world's leading organizations of independent audit, tax and advisory firms. In the United States, Grant Thornton has revenue in excess of $1.4 billion and operates 58 offices with more than 500 partners and 6,400 employees. Grant Thornton works with a broad range of dynamic publicly and privately held companies, government agencies, financial institutions, and civic and religious organizations.
"Grant Thornton" refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another's acts or omissions. Please see grantthornton.com for further details.
SOURCE National Center for the Middle Market (NCMM); SunTrust Banks, Inc.; Grant Thornton LLP