Truist Financial Corporation announced the expansion of the Truist Commercial Community Bank's Industry Consulting team, adding waste and environmental services and building products to its growing list of industry specialties. Truist's Commercial Community Bank specializes in serving business clients with annual revenues of $2 million to$500 million.
Prachi Wagner has joined Truist as Waste and Environmental Services industry consultant and will be based in Charlotte, NC, and Matt Roth will serve as Building Products industry consultant and will continue to be based in Washington, D.C.
"Truist's unique model uses industry-specific experts to help our bankers deliver customized financial and advisory solutions tailored to the characteristics of businesses operating in that space," said Mary-Crawford Taylor, head of Industry Consulting for Truist. "The addition of waste and environmental services and building products complements our current specialty area roster and increases and accelerates our ability to attract and deepen client relationships in these industries."
Truist Commercial Community Bank's current industry specialty areas also include: dealer commercial services; senior care; aerospace, defense and government contracting; association services; logistics and supply chain; food and agribusiness; education; not-for-profit hospitals and health systems; and beverage.
Wagner has over 17 years' experience in banking and engineering. Prior to joining Truist, Wagner was a waste and recycling industry consultant for Wells Fargo, covering the eastern and southern regions of the United States. Her experience also includes working for Bank of America Merrill Lynch in its middle market and investment banking groups, and she also has worked as a structural design engineer. Wagner holds an MBA from the University of Chicago.
"The companies in the waste and environmental services industry value a banking partner that understands the regulatory and capital complexities surrounding this space," said Wagner. "I'm excited to join Truist and partner with our community bankers to grow our involvement in this industry."
In his 16-year career with Truist, Roth has served in leadership roles focused on commercial, middle market and real estate lending. Within real estate, his expertise centered on commercial construction and regional homebuilders in markets across the mid-Atlantic, Southeast and Texas.
"Building products is a dynamic space to operate in, making it especially important to align with partners who fully understand the industry," said Roth. "It is exciting to service our clients with local bankers and still have the power of industry expertise every step of the way."
The waste and environmental services industry primarily focuses on family-owned non-hazardous waste companies, hazardous waste companies and recyclers. The waste companies include residential waste haulers, industrial waste haulers, commercial waste haulers, medical waste companies, used oil recycling companies and remediation. They also include companies that transport waste between transfer stations and landfills. The recycling companies include scrap recyclers that recycle ferrous (such as steel and iron) or nonferrous scrap (such as copper and aluminum).
The building products industry specialty will pursue companies that specialize in residential, commercial and industrial building products. These organizations can be further categorized within industry channels of distribution, manufacturing or construction materials. The products are ultimately utilized in construction, renovation or maintenance of residential or commercial buildings and other types of land development.