Haywood Securities Hires Tsubouchi to Head Investment Bank
The brokerage also hired Jeff Reymer from National Bank of Canada (NA) as managing director of global energy investment banking, Vancouver-based Haywood said in a statement. Tsubouchi was most recently co-head of investment banking at GMP.
The new hires, effective today, follow Haywood Chief Executive Officer Rob Blanchard’s announcement last week that the firm cut 20 jobs, or about 7 percent of its headcount, amid a slowdown in Canada’s commodities sector.
The unit will focus on domestic energy companies and Canadian-based international oil and gas firms, it said in today’s statement.
The new additions “will provide our firm with the strength, experience and depth to elevate our capabilities in this dynamic sector,” Blanchard said in the statement.
North American oil and gas deals, including shale assets, plunged 52 percent to $26 billion in the first six months of the year from $54 billion in the year-ago period, according to data compiled by Bloomberg. Haywood said it hopes to counter the crimping effects of the slowdown by competing for deals in Calgary, the heart of Canada’s energy industry.
“Oil and gas has not been the shiniest part of our industry,” John Tognetti, Haywood’s chairman, said in a phone interview today. “Whether the market is good or not, when there are good people available, you have to make the sacrifice and the attempt to bring them on. These guys are going to ferret out a lot of good opportunities and bring in a lot of good clients. This is a game changer.”
The new group also includes energy research analyst Darrell Bishop, and Michael Dilay who will focus on sales and trading, Haywood said.
Haywood, a closely-held firm founded in 1981, employs about 275 people with offices in Calgary and Toronto.
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