RBC industrials investment banking co-head moves to Jefferies: sources

By Harry Brumpton

(Reuters) - Royal Bank of Canada's co-head of industrials investment banking Glenn Riedman has resigned to join the investment banking arm of Jefferies Financial Group Inc, according to people familiar with the matter.

Riedman had been with RBC in New York since 2011, where he oversaw the bank's relationships with industrial conglomerates as well as building products, packaging, chemicals, metals and mining companies.

His new title at Jefferies could not be verified.

Jefferies declined to comment, while RBC and Riedman did not respond to requests for comment.

Before joining RBC, Riedman was a managing director in the diversified industrials group at JPMorgan Chase & Co.

Riedman is not the first industrials banker recently poached by Jefferies. The bank has been scaling up its industrials practice since May 2018, when Reuters reported the bank had hired Goldman Sachs Group Inc veteran Peter Scheman to be its new co-head of industrials investment banking for the Americas.

(Rreporting by Harry Brumpton in New York; Editing by Richard Chang)