The bank said it will provide a full range of banking capabilities to technology and defense companies, under Sozio’s leadership, with an emphasis on advisory services, syndicated financing, and debt capital for growth and merger and acquisition activities.
Sozio will be based in Charlotte, North Carolina.
The bank added formation of the new division complements its investment banking and advisory services provided through Morgan Keegan & Company, the securities brokerage and investment banking arm of Regions Financial.
Sozio has 25 years of experience in financial services that includes broad management and advisory experience in both the technology and defense industry sectors.
Sozio spent 12 years at Wachovia Securities and its predecessor, First Union Securities, where he established and built First Union/Wachovia’s defense and government services corporate finance practice and later led Wachovia’s technology and services debt capital markets team.
Prior to First Union Securities, he spent 10 years in the corporate banking group at NationsBank and its predecessors.
Through the bank’s partnership with Morgan Keegan, Regions also offers clients a full suite of investment banking, capital markets, leveraged finance and advisory services.
Regions Bank head of commercial and industrial banking Sam Tortorici said that both technology and defense are strategically important domestic industries and companies in these sectors require financial products, services and expertise tailored to their specific needs in order to be successful.
"Under Dave’s leadership, we are well-positioned to meet the needs of growing companies in the technology and defense industries and I’m pleased to have an individual of his experience and reputation leading this important new banking group," Tortorici said.
Morgan Keegan recently appointed Dan Cornell into firm’s security & defense investment banking group as a managing director.
In addition to enhancing Morgan Keegan’s presence in the defense sector, Cornell, formerly with Jefferies & Co, will be instrumental in initiating the firm’s coverage of the aerospace and government services sectors and will work closely with Regions Bank’s new technology & defense banking group.
