(Bloomberg) -- Citigroup Inc. hired Truist Financial Corp.’s Michael Phipps as head of building-products investment banking, according to people with knowledge of the matter.
He’s set to join the New York-based bank after a period of so-called gardening leave, said the people, who requested anonymity to discuss an appointment that isn’t yet public.
Representatives for Citi and Charlotte, North Carolina-based Truist declined to comment, as did Phipps.
Phipps joined Truist in 2020 and previously worked at RBC Capital Markets, Finra records show. During his tenure at Truist, the bank advised Fulcrum Building Group on its sale to Builders FirstSource Inc., according to a LinkedIn post.
--With assistance from Kiel Porter.
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