SunTrust Bank has hired Corey Pinkston to run high-grade bonds and John Gregg to run loan syndications. Gregg is expected to start next Monday and Pinkston will begin in March. Pinkston will report to Beau Cummins, executive v.p. and head of SunTrust Robinson Humphrey debt capital markets. Gregg will report John Giegerich, head of origination. "For us to attract someone of Corey and John's caliber is a strong statement," Cummins said. Both were managing directors at Bank of America. Pinkston did not return calls and Gregg could not be reached. A Bank of America spokeswoman declined comment.
"We obviously have a different profile in this business than some of our competitors," said Cummins. "We are not trying to compete on the basis of scale and quantity; we are trying to compete on the basis of quality. We are focused on adding people who can bring special talents and skills and background and immediately enhance the quality of our offering and our platform." Cummins anticipates making other experienced junior hires on the platform and will also have some additional senior level hires, but he was not prepared to announce those yet.
At B of A Pinkston headed the financial institutions group, debt capital markets and Gregg worked in high-grade syndication. Both will be relocating to Atlanta, Pinkston from New York and Gregg from Charlotte. Cummins knew both of them from his time at Bank of America he joined SunTrust last May which made them easy choices. "I know they are good, they have a proven track record, they are known to be [good]. It is easy to be aggressive on these kinds of hires."
Pinkston's position is a new slot on the organizational chart, Cummins said. As head of high-grade bond origination his responsibilities will include product development and liability management. Gregg is taking over a spot Peter Vaky, managing director, left about four months ago to run the distribution arm of institutional sales. Cummins said Gregg will be taking over the existing loan syndication team.
