Key Takeaways
- • Truist Financial Corporation (NYSE: TFC) appointed Chris Jackson as head of its newly established Institutional Capital Group (ICG), which will serve middle-market private equity sponsors and select family offices.
- • Jackson joins from Citibank, where he led the Sponsor Coverage Group within Citi's Commercial Bank, and brings more than 20 years of experience in sponsor coverage, capital markets and corporate lending.
- • ICG will deliver core banking, payments and capital markets solutions and complements Truist Securities' Financial Sponsors Group, which focuses on large-cap sponsors.
- • Truist will expand the team with senior bankers and resources; Jackson is based in New York City, with Matt Gormly in Dallas and Jamie Citrin in Atlanta.
Summary
Truist Financial Corporation has launched a dedicated coverage team for middle-market private equity sponsors and select family offices, naming Chris Jackson as head of its newly established Institutional Capital Group, according to a company announcement distributed via PRNewswire. The team is designed to expand Truist's presence in the small- and mid-cap private equity market, which the bank describes as growing.
The company cites PitchBook's 2024 U.S. PE Middle Market Report in stating that private equity and family office transactions with middle-market companies increased nearly 84 percent over the past decade, and that the number of PE firms and family offices has surged. ICG will provide core banking, payments and capital markets solutions to middle-market sponsors and family offices largely headquartered within Truist's commercial footprint. The group complements Truist Securities' long-established Financial Sponsors Group, which covers large-cap financial sponsors.
Jackson brings more than 20 years of experience in sponsor coverage, capital markets and corporate lending. He previously led the Sponsor Coverage Group within Citi's Commercial Bank, where he built sponsor relationships, drove deal flow and led a team focused on mid-cap private equity clients. Jason Cagle, Head of Specialized Industries and Institutional Capital at Truist, said Jackson's background makes him the ideal leader to build the team and "take share in this important market," adding that segmenting institutional capital clients by need will strengthen the bank's relevancy and increase its share of wallet.
Jackson will be based in New York City and will lead a team that includes ICG Director Matt Gormly in Dallas and Vice President Jamie Citrin in Atlanta. Truist plans to add senior bankers and resources to support the business. ICG is one of several groups within the Specialized Industries and Institutional Capital team, part of Truist's Commercial and Corporate Banking business, which sits within the Truist Wholesale Banking segment. Truist, headquartered in Charlotte, North Carolina, reported total assets of $544 billion as of Sept. 30, 2025.
The company cites PitchBook's 2024 U.S. PE Middle Market Report in stating that private equity and family office transactions with middle-market companies increased nearly 84 percent over the past decade, and that the number of PE firms and family offices has surged. ICG will provide core banking, payments and capital markets solutions to middle-market sponsors and family offices largely headquartered within Truist's commercial footprint. The group complements Truist Securities' long-established Financial Sponsors Group, which covers large-cap financial sponsors.
Jackson brings more than 20 years of experience in sponsor coverage, capital markets and corporate lending. He previously led the Sponsor Coverage Group within Citi's Commercial Bank, where he built sponsor relationships, drove deal flow and led a team focused on mid-cap private equity clients. Jason Cagle, Head of Specialized Industries and Institutional Capital at Truist, said Jackson's background makes him the ideal leader to build the team and "take share in this important market," adding that segmenting institutional capital clients by need will strengthen the bank's relevancy and increase its share of wallet.
Jackson will be based in New York City and will lead a team that includes ICG Director Matt Gormly in Dallas and Vice President Jamie Citrin in Atlanta. Truist plans to add senior bankers and resources to support the business. ICG is one of several groups within the Specialized Industries and Institutional Capital team, part of Truist's Commercial and Corporate Banking business, which sits within the Truist Wholesale Banking segment. Truist, headquartered in Charlotte, North Carolina, reported total assets of $544 billion as of Sept. 30, 2025.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.