CIBC World Markets is in need of a new oil and gas analyst, after top-ranked Brad Borggard announced he's leaving the investment bank to join the executive team at Crescent Point Energy.
Mr. Borggard is joining an ambitious oil and gas company with an $8-billion market capitalization: Crescent Point is in the news Wednesday with an acquisition of Penn West Energy Trust properties in southeastern Saskatchewan.
With bonus cheques cashed at many of the bank-owned dealers, there is likely to be a fair amount of talent moving in coming weeks. CIBC World Markets, the investment dealer arm of CIBC , will likely kick off a round of musical chairs among energy analysts, as it has lost two members of its team in the past six months.
Back in June, money manager Connor Clark & Lunn hired away CIBC World Markets energy analyst Mark Bridges.