SunTrust Banks Incorporated (STI) is planning to hire 200 new people to expand businesses, particularly in capital markets, stock research, and also increase expertise to target the healthcare and energy industries.
Mark Chancy, the head of the company’s wholesale banking said that the move aim to boost the company’s headcount to 20% or about 1,200 individuals by 2016. These individuals will be employed in different cities all over the country which includes New York and Atlanta, and capital markets units will be hired in both equity and debt.
SunTrust to Hire 200 for Capital Markets and Research ExpansionBeing Georgia’s largest lender, Chancy said that their company has been expanding outside the Southeast of the U.S. while creating their wholesale-banking unit. This includes corporate and investment banking, treasury, payment services, and commercial real estate. As the company adds employees, compensation will certainly compete with big time Wall Street firms. He also added that SunTrust has offered a very competitive pay scale with an attractive platform. It also presents a culture that allows them to acquire and keep top talents.
Generally falling to 0.4%, recently the company rose 2 cents up to $38 in New York and it is considered the fourth overall best performance basing on the KBW Bank Index (BKX). The shares, meanwhile increased by 3.2% this year and Chancy also mentioned that by November he is planning to add 60 more employees. Recent additions had included three individuals in equity research that will focus on health care and energy.