Scotia Capital head of research John Henderson has replaced himself, as the investment bank introduced UBS Securities veteran Jeff Fan on Friday as its new telecom and cable analyst.

Mr. Fan spent the past decade covering telecom for UBS Securities; prior to that, he was an accountant at Ernst & Young. Working at the global dealer gives Mr. Fan an international perspective on this sector, and Scotia Capital will want that perspective, as the dealer tries to present Canadian stocks in a North American and global context.

Mr. Henderson was a top-ranked analyst in telecom before taking over the research department last month, when his predecessor Greg Pardy moved back to covering energy stocks for RBC Dominion Securities.