The Globe and Mail reports in its Thursday, Sept. 10, edition that Echelon Wealth Partners has prepped for a rebound in oil and gas stocks by hiring veteran energy banker Simon Akit as its new head of institutional equity sales and trading. The Globe's Andrew Willis writes that Echelon's
Karanjit Bhugra said, "With his deep relationships with global institutional accounts and corporate issuers, Simon will play an instrumental role in the continued growth of Echelon Capital Markets."
Mr. Akit spent the past two decades covering oil and gas stocks, including as global head of energy sales during a 12-year stint at Canaccord Genuity Group. He also worked for Bank of Montreal's capital markets group in New York and at Raymond James and UBS Securities Canada. Mr. Akit said, "I am excited to join a platform that champions sector expertise with true entrepreneurial spirit."
Echelon is building expertise in companies that traditionally fly under the radar of Canada's bank-owned dealers. Investment banks that focus on small to mid-sized companies, including Echelon and Canaccord Genuity, have seen a surge in revenues in recent months, as stock trading and corporate finance activity picked up.
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