Calgary skyline in August, 2012.Chris Bolin/The Globe and Mail
Yet another one of the big names at GMP Securities is gone.
Energy specialist Dan Tsubouchi resigned from the investment banking unit of GMP Capital on Wednesday morning.
Officially, Mr. Tsubouchi was a vice-chairman and co-head of investment banking. But his role over the years at the firm was bigger than that. He was one of a small group of partners who essentially ran the firm for much of the past decade – a group that has steadily been fading into the background under new chief executive officer Harris Fricker.
Mr. Tsubouchi joined the firm four years after it was founded, as an oil and gas analyst. He joined the executive committee in 2004, when he was promoted to head of research. He was named co-head of investment banking in 2008.
His departure is yet another in a generational shift at the firm.
Long-time CEO Kevin Sullivan stepped away from that role in 2010, handing the title to Mr. Fricker. Mike Wekerle, who ran trading, then left the firm, as did Tom Budd, another key energy banker. Mark Christensen and Mark Hawkins recently moved on from GMP's sales desk.
The expectation is that Mr. Tsubouchi's role will be filled by a combination of internal and external hires.
(Boyd Erman is a Globe and Mail Capital Markets Reporter & Streetwise Columnist.)
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