One of Pittsburgh’s biggest banks has a new head of a financing offering that supports capital needs of corporate banking customers, private equity firms and family offices.
F.N.B. Corp. on Wednesday said its subsidiary, First National Bank, has hired Martin McCormick as managing director and head of F.N.B. Mezzanine Finance.
Most recently, McCormick was managing director for Huntington Capital Investment Co. He reports to Bryant Mitchell, F.N.B.’s executive vice president of Capital Markets and Specialty Finance Businesses.
In his new role, McCormick leads a team responsible for originating, executing and monitoring mezzanine and subordinated debt, and oversees investments supporting event-driven capital needs for clients. These include acquisitions, buy-out financing, recapitalizations and growth capital.
McCormick also manages F.N.B.’s partnerships with other mezzanine and subordinated debt investors for equity co-investment opportunities.
“Marty’s proven experience and success in this space makes him an outstanding leader to grow F.N.B.’s mezzanine finance business,” Mitchell said in a prepared statement.
McCormick has worked in the financial services sector throughout the Midwest for more than 25 years, starting out at National City Corp. and then moving to firms including Medallion Capital, Rockwood Equity Partners and Franklin Partners.
F.N.B. (NYSE:FNB) is based in Pittsburgh’s North Side neighborhood and is the second-largest bank headquartered in Pennsylvania. It has assets of about $34 billion and operates in multiple states including Ohio, Maryland and the Carolinas, as well as across the commonwealth.