The Houston skyline is seen at dusk. GMP Securities is building its presence in the city, adding an energy analyst to the team.RICHARD CARSON/Reuters
GMP Securities is working quickly to build its presence in Houston, adding an energy analyst to the team shortly after hiring a senior banker to open the Texas office.
GMP has hired Ipsit Mohanty, who will join GMP after the leave required by any non-compete clauses in his contract. He comes from rival Canaccord Genuity, where he worked for one year. Before that, he had been at Bank of America Merrill Lynch, where he spent four years and was an analyst.
He follows the path trod recently by Chris Gibson, who had been Canaccord's top energy banker in Houston. GMP hired him in December.
Building up a sales and trading desk is step two in the Houston expansion, as GMP will look to sell deals to U.S. investors that Mr. Gibson originates. Without sales and trading, which Canaccord has in U.S. energy, it may be tougher to win mandates.