Nobody wants to be the one lured onto the bandwagon to start up a business at the very top of a market. There’s only one direction from there: down.
Quebec-based Laurentian Bank of Canada can’t be accused of that as it makes its first foray into investment banking in the downtrodden oil patch.
The veteran energy banker leading the effort says it’s countercyclical. Boy, he’s not kidding. The move has raised a few eyebrows in energy and finance circles.Report Typo/Error