There's a top-ranked analyst wandering the Street today, destination unknown, as insurance specialist Tom MacKinnon has reportedly left Scotia Capital.
The rumour making the rounds on Thursday has Mr. MacKinnon on his way to BMO Nesbitt Burns. It's the obvious move, as BMO Nesbitt Burns needs coverage on the space after shifting incumbent John Reucassel to the banking stocks. BMO Nesbitt Burns executives could not be reached for comment.
BMO Nesbitt Burns is is the investment dealer arm of Bank of Montreal , while Scotia Capital is a unit of Bank of Nova Scotia . Both dealers are major traders of insurance stocks.