RBC Capital Markets, the investment banking arm of RBC Royal Bank, has hired former Goldman Sachs infrastructure specialist David Utz as a managing director.
Utz will lead RBC’s US infrastructure team and will work closely with its municipal finance business. He will report to Michael Casey and Paul McNutt, the company’s co-heads of its US power, utilities and infrastructure unit.
“David Utz is a first-rate addition to the infrastructure financing capabilities of RBC,” said Chris Hamel, head of US municipal finance at RBC. “The US is at an inflection point with respect to its underfunding of infrastructure with expanded client options as the likely policy outcome in the coming national debate.”
Utz had 16 years of experience working at Goldman Sachs, participating in an advisory role on projects including the Chicago Skyway and Indiana Toll Road concessions. He has also been involved in over $10 billion of financing for airports, toll roads, schools, hospitals and other types of infrastructure assets.
Goldman Sachs reported this month its infrastructure investment group has raised $2 billion to date for its West Street European Infrastructure Partners III fund.