Barclays Toronto
Anybody know anything about this office? Any insight on what kind of deals they do and culture?
Thanks in advance
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Started out as Lehman Brothers Toronto which was opened in 2006/2007. The office was run by the now Global Head of IBD at CIBC (Geoff Belsher), but they weren't open long enough to do much business (see: failure of LEH in 2008). The office was small (prob 6-8 bankers)
After Lehman's fall, Barclays absorbed the office and moved everyone to a gorgeous brand new office near the top of the Bay-Adelaide Centre. Belsher left and they hired an ex-RBC rainmaker (Bruce Rothney) and ex-Federal Finance Minister and Chairman at UBS Canada Michael Wilson to run the firm in Canada. They built out the S&T team (mainly sales, if I understand correctly) and added to their advisory team. Within IBD, I believe they have two main coverage groups: Metals & Mining and Diversified Industries.
Metals & Mining: The Co-head of Barclays' Mining group sits in Toronto. Used to be Gavin McOuat (formerly of Citi), but he left in 2013 to join Raymond James, Barclays then hired the former head of mining at UBS (Paul McKnight) who now sits at Barclays Toronto. In M&A, the Toronto office has done a few decent M&A deals (e.g. Yamana/Extorre). Im sure they do quite a bit of capital raising work (e.g they were co-book on Barrick's huge $3bn equity offering last year), but I'm only familiar with M&A. They haven't done much recently, but then again the sector has been relatively dead
Diversified: I'm not as familiar with their diversified team, but they seem to focus on media and communications given Rothney's experience and relationships in the space (e.g. the toronto office worked on the $1.1Bn acquisition of Q9 Networks by Bell in 2012)
They only take 1-2 analysts per year (usually from Queen's) and run lean - the office is 8-10 people. In terms of exits, they sent one of their analysts to Birch Hill Equity Partners last year and an analyst to CPPIB this year.
Hope that helps.
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