Refinery workers on a crane tower inside the LyondellBasell oil refinery in Houston, Texas March 6, 2013.Donna Carson/Reuters
GMP Capital Inc. is expanding its investment banking operations into Houston, hiring the top U.S. energy banker from rival Canaccord Genuity Corp.
In bringing on Chris Gibson, GMP is trying to build on its recent expansion into the U.S. in the high yield debt business. There is also a fit with GMP's Canadian commodity business.
In his place, Canaccord promoted two bankers. The firm said that both Steve Harris and Mitch Ayer have been bumped up to managing director, and will jointly lead the Houston energy banker team.
The hiring raises the question of whether GMP will begin to build out equity sales and trading in the U.S to distribute energy deals it originates.