Collina Leaves Castanea Partners for BB&T: UPDATED

Andrew “Drew” Collina has left Castanea Partners to join BB&T Capital Markets, several sources say.

Collina joined BB&T late last year and is now part of the bank’s financial sponsors group, one person says. Collina left Castanea to return to his investment banking roots, the source says. Collina has previously worked at RBC Capital Markets and BancBoston Robertson Stephens.

Officials for BB&T couldn’t be reached for comment.

Collina joined Castanea in 2008 where, as a principal, he was responsible for coordinating the firm’s business development and acquisition origination duties, according to the firm’s web site.

Newton, Mass.-based Castanea Partners, a middle market PE firm, invests in sectors such as specialty retail, information services, and branded consumer products. The firm’s last fund, Castanea Partners Fund III, raised $575 million in 2007.

UPDATE: G. Jacob “Jake” Savage, BB&T’s co-head of equity investment banking, confirmed Thursday that Collina has joined the bank. Collina is working for Bruce Kelleher, who is co-head of BB&T’s sponsors group.

Collina, Savage says, has gone from being a sponsor originating exec to an investment banker covering the entire breadth of private equity. “We’re excited to have him here,” Savage says. “He’s already contributing.”