Gosbee’s AltaCorp Investment Bank Plans to Hire 40 People

May 20 (Bloomberg) -- Former Tristone Capital Inc. Chief Executive Officer George Gosbee plans to have 30 to 40 employees when he opens his new investment bank AltaCorp Capital Inc. in about six months.

“You’ll see it grow close to 50 by the end of year two,” Gosbee said today in a telephone interview from Calgary.

AltaCorp will provide banking services to clients in the energy, agriculture and biotechnology industries, the Calgary-based company said today in a statement. The company will also work on deals outside Canada, Gosbee said.

“I think agriculture has such a similarity to energy 10 to 25 years ago, that we need to start focusing attention on it,” said Gosbee, 40. “There’s a lot of untapped potential coming.”

Tristone will work with ATB Financial to provide lending services to clients, Gosbee said. The Edmonton, Alberta-based financial institution has a 19.9 percent stake in AltaCorp.

“When we get clients, the biggest weakness for an independent is to not be able to provide commercial lending services,” Gosbee said. “Now we have a strategic partner that’s providing that.”

Tristone Capital, which Gosbee founded in 2000, was sold to Macquarie Group Ltd. in September for C$116 million ($108.4 million).

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To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net.

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net; Alec McCabe at amccabe@bloomberg.net