AltaCorp Capital Inc. dismissed two research analysts and one research associate Friday amid an oil price slump.
Jeremy McCrea and Jason Sawatzky, both analysts, and Klazina van den Berg, an associate, have left the Calgary-based bank. McCrea confirmed the staff reductions by phone, while Sawatzky and van den Berg didn’t immediately return phone messages. Automated e-mail responses from Sawatzky and van den Berg also indicated they are no longer with AltaCorp.
The cuts show the impact of the 51 percent slide of oil prices from a year ago because of a global glut. Calgary, where most Canadian oil and natural gas companies are based, is also home to the bulk of the country’s energy bankers. AltaCorp is paring down after the financial advisory firm’s 2013 expansion of its institutional trading desk in Toronto. There were 65 people working at AltaCorp before the cuts, according to an online directory.
George Gosbee, AltaCorp’s chairman and chief executive officer, didn’t immediately return a phone message.