Daniel Holland of Beacon Securities decided the only way for his firm to prosper and grow was to expand nationally, bring in new partners, and establish a strong presence in Toronto.Paul Darrow/The Globe and Mail
With its expansion bearing fruit in a big jump in trading volumes, Beacon Securities is adding two more names to its sales and trading desk that bring a strong focus on mining. At the same time, one of the firm's marquee hires of last year has left his post as head trader.
Beacon was, until a year ago, a small firm mainly based in Halifax. But early last year, braving a slowdown in capital markets that had most firms treading water, Beacon decided to open a large new operation in Toronto and staff up in a big way, looking to hire as many as 30 people.
One of those hires was Tony Oram, a long time presence on the street who joined last year as head trader. He retired a week ago.
The new additions give Beacon a bigger presence in mining. Beacon launched its expansion with a plan to cover industries beyond just mining and energy, but there's no getting around clients' desire for coverage of resources.
Michael Curran joins Monday from RBC, where he covered gold stocks such as Osisko mining. He is joined by Paul Sun, who was most recently at Desjardins Securities as a managing director with a specialty in mining sales.
(Boyd Erman is a Globe and Mail Capital Markets Reporter & Streetwise Columnist.)