HOUSTON, March 8, 2011 /PRNewswire/ -- BB&T has hired a six-member energy lending team based in Houston, Texas, to focus on oil and gas production and midstream companies.
"The addition of this team to BB&T Capital Markets' energy platform is part of a long-term strategy to expand our presence in the oil and gas sector and represents a significant growth opportunity for us. We are committed to this strategy of helping our clients access capital from a trusted and proven financial partner," said Rufus Yates, president and CEO of BB&T Capital Markets.
"The new energy lending team, led by Jeff Forbis, has extensive knowledge of the oil and gas sector. Their experience -- paired with BB&T's resources as one of the nation's largest and most sound financial institutions, uniquely positions BB&T to become a premier energy lender," Yates added.
"BB&T's strong commitment to energy lending makes it the perfect partner for exploration and production as well as midstream companies, which typically have capital-intensive growth plans," said Jeff Forbis, Energy Group team leader for BB&T Capital Markets Corporate Banking.
BB&T currently has extensive energy risk management capabilities in Houston through its team of insurance industry specialists at McGriff, Seibels and Williams, an insurance subsidiary of BB&T. In addition, BB&T Capital Markets added a team of equity research analysts dedicated to the energy sector in 2010.
BB&T Corporation made its entrance into the Texas market with the Colonial Bank acquisition in 2010 and is well positioned to support the energy sector as one of the best capitalized banks in the U.S.
About the BB&T Energy Group
BB&T's Energy Group consists of a six-person team with significant experience in oil and gas lending:
- Jeff Forbis, senior vice president and team leader, has more than 30 years of energy banking experience and specializes in oil and gas reserve-based and midstream lending for the capital-intensive oil and gas sector.
- David Phillips, senior vice president, has more than 30 years of experience in the energy sector.
- Ryan Michael, senior vice president, has 11 years of energy banking and investment banking experience.
- Parul June, assistant vice president, has 11 years of experience in banking, with more than five years in energy lending
- Cherie Allen, corporate banking analyst, has 21 years of banking experience, with seven years in energy banking operations.
- David Wesley, senior vice president and regional loan administrator, has more than 30 years of banking experience with 12 years in the energy sector. Wesley will be based in Winston-Salem, N.C., with the Corporate Credit Administration team.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of research, investment banking, sales and trading and corporate banking to corporations, governments and nonprofit organizations. In addition to the energy sector, BB&T Capital Markets has deep industry knowledge and execution capabilities in commercial and industrial, consumer, defense and government services, financial services, healthcare and logistics and transportation services. BB&T Capital Markets is a division of Scott & Stringfellow, LLC, a wholly-owned non-bank subsidiary of BB&T Corporation.
About BB&T Corporation
BB&T Corporation (NYSE : BBT ) is one of the largest financial services holding companies in the U.S. with more than $157.1 billion in assets and market capitalization of $18.3 billion, as of Dec. 31, 2010. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.
SOURCE BB&T Corporation