Macquarie Group (MQG.AX) is buying Los Angeles-based REGAL Capital Advisors LLC, a boutique investment bank focused on the gaming, lodging and leisure industries. The deal reflects the Australian investment bank's sector-focused expansion in North America and would add to its platform of advisory services in that sector. REGAL is led by David Berman, who has more than 17 years of gaming, lodging and leisure industry experience. Prior to founding REGAL, Berman led Credit Suisse's (CSGN.VX) gaming, lodging and leisure investment banking group. Berman will be appointed Macquarie's head of gaming, lodging and leisure for North America.
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