Lazard Ltd expanded its middle market advisory practice with the addition of Dimitar Karaivanov as a managing director in its middle market's financial institutions group.

S&P Global Market Intelligence reported in late April, citing two industry sources, that Lazard was expected to hire Karaivanov for its depository coverage team.

Karaivanov is based in New York.

He joins from RBC Capital Markets LLC, where he most recently was a managing director in FIG investment banking.