Truist Securities today announced that two senior investment bankers recently joined the firm to lead key industry teams. Specifically, Mike Phalen has joined the firm as head of Consumer Investment Banking and Chris Hildreth has joined as head of Business Services Investment Banking.

Prior to joining Truist Securities, Phalen spent 12 years with Wells Fargo, where he most recently served as vice chair of Consumer & Retail Investment Banking, and Hildreth spent 15 years with Baird, where he was a managing director in the Technology & Services Group in Chicago.

Phalen has more than 25 years of experience, primarily in investment banking, but also as a consumer industry executive. From 2004 through 2007, he served as chief financial officer of Krispy Kreme Doughnuts. Prior to that, Phalen worked in the Consumer and Retail groups at CIBC, Deutsche Bank, and Alex Brown. He began his career at Deloitte & Touche. Phalen’s focus has been primarily on the restaurant, grocery and convenience store segments of Consumer and Retail, and he has advised on some marquee M&A transactions throughout his career. 

Hildreth has covered the Business Services sector his entire banking career. He focuses principally on Legal and Professional Services, including tech-enabled legal services and specialty consulting, Information Services, including document management and data & analytics, and Marketing Services, including marketing execution and outsourced sales services. Hildreth will be charged with growing Truist’s Business Services team over the coming months, and he will be based out of Chicago. 

“Mike and Chris are highly respected investment bankers committed to providing clients with tailored, innovative solutions and counsel,” said Tom Hackett, President and COO of Truist Securities. “Their experience and industry sector knowledge deepen our coverage enabling us to bring our unique advisory approach to new clients and deepen existing relationships.” 

Phalen earned a B.S. from the University of Virginia and an M.B.A. from the Kellogg School of Management at Northwestern University. Hildreth earned his B.S. and MBA from Indiana University.