RBC Capital Markets has expanded its municipal markets groups with the addition of industry veteran Keith Shultis in its New York office.
Shultis joins as managing director and will lead the credit solutions group. He will report to Chris Hamel, managing director and head of U.S. municipal finance at RBC.
“Keith’s experience in the industry as both a municipal banker and product specialist gives him a unique position to lead our credit solutions group and provide our clients with best in class financing insight,” Hamel said. “While we continue to grow our business and participate in some of the largest issuances across the country, our focus remains on providing outstanding service and industry expertise to all of our clients, and Keith will be integral in helping us accomplish that.”
Shultis joins RBC with more than 22 years of experience at Goldman Sachs. Most recently, he was a managing director within the investment bank’s public sector and infrastructure business and led its structured products group.
His role included developing derivative product solutions for clients in the healthcare, higher education, public power, and sports facilities sectors. In addition, he co-led the client strategies group where he managed and developed financing solutions for clients, including pension-related transactions, tender offers, and portfolio restructurings.
“I’m very pleased to be joining RBC Capital Markets, a firm that provides top quality service to municipal clients through its talented and seasoned bankers, first rate execution and the highest rated balance sheet of any bank active in the U.S. municipal industry,” said Shultis.
His first day was Monday.
RBC’s municipal market group ranked fifth among senior managers in 2012, according to Thomson Reuters data. The firm worked on 631 issues totaling $20.9 billion, with a 5.7% market share.
