Fried Frank acted as counsel to Goldman Sachs as financial advisor to SunTrust Banks Inc., in its US$66 billion merger with BB&T Corp. The combined company will operate under a new name and have around US$442 billion in assets. SunTrust Banks, Inc. is an American bank holding company, the largest subsidiary of which is SunTrust Bank. BB&T Corporation is a bank holding company. The deal is expected to close in the fourth quarter of 2019.
The Fried Frank team was led by corporate partner Philip Richter and included corporate associate Roy Tannenbaum.