CIBC World Markets added depth to its mining team on Monday by hiring an investment banker with strong industry experience, and transferring a veteran financier.
The newest member of the team is Thys Terblanche, the former global head of the mining and metals team at Standard Bank. Mr. Terblanche will be based in Toronto. As a banker, he has covered a number of gold and base metal miners, and prior to that, he held senior roles at BHP Billiton, working in finance and mergers and acquisitions for the world's biggest mining company.
The internal move saw CIBC shift equity capital markets veteran David Cobbold on to the mining team. Mr. Cobbold has been with the investment dealer since 1997, most recently in the ECM division that structures financings, and prior to that, in merchant banking.
These moves come against a backdrop of increasing activity in mining, as companies and investors anticipate an end to the recession and rising demand for commodities.
They also represent a new team taking shaping in CIBC's mining group, where veteran investment banker Rick McCreary took the reins last year as head of the department.