Initially, the practice will focus on mergers and acquisitions and capital raising for community banks with assets totaling up to $3bn.
Headwaters MB has appointed Jacob Eisen, Eliot Stark and Brian Ytterberg as managing directors to form the new group. The team will be based in Chicago.
Headwaters MB co-founder and CEO Phil Seefried said that the team uniquely combines a highly successful track record in bank M&A and capital raising with the extensive operating, finance and regulatory expertise that bank clients seek to navigate today’s challenging market.
Brian Ytterberg has more than 20 years of investment banking and financial advisory experience in the financial services sector and is a former head of the Financial Institutions investment banking group at Howe Barnes Hoefer & Arnett.
Jacob Eisen and Eliot Stark are former managing directors at Chicago-based Capital Insight Partners, an investment bank Eisen co-founded to focus on middle-market community banks.
Stark, who has more than 30 years of commercial banking experience, headed Capital Insight Partners’ Detroit office. Previously, he was CFO and vice chairman of a publicly traded community bank in Michigan, and before that served as a corporate development, finance and planning executive for Comerica Bank.
