Debevoise & Plimpton LLP is advising Total Bank Solutions (“TBS”) in its merger with Reich & Tang Deposit Networks, LLC (R&T). R&T and TBS will have a combined total of assets under supervision of more than $220 billion. The combination of the two firms will provide banks, credit unions, wealth managers and trust institutions with a larger selection of products and services, designed to meet their unique cash sweep, deposit funding and securities-based lending needs. For more information, please see the company’s press release.
TBS is a privately held financial technology firm that serves the needs of banks and wealth management organizations R&T offers deposit and liquidity solutions to financial intermediaries throughout the country.
The Debevoise team is led by M&A partner Gregory Gooding and includes counsel Benjamin Collins-Wood, associates Kyle Buchoff and Tiancheng (TC) Huang and law clerk Jarrett Lewis, banking partner Gregory Lyons and counsel Chen Xu, benefits counsel Kyra Bromley and associate Andrea Acosta, and tax partner Michael Bolotin and associate Samuel Krawiecz.