A pump jack in Alberta is seen in this file photo.© Todd Korol / Reuters/Reuters
Raymond James is extending its streak of senior investment banker hires, adding a new managing director in Calgary who will focus on energy exploration and development companies.
Sean Naylen is joining the independent dealer, effective today. He moves over from a software development firm, where he served as chief financial officer. Before that he was a managing director with Goldman Sachs in Calgary, and has also worked for Barclays Capital. and CIBC World Markets.
The hire dovetails with Raymond James' continuing expansion in Canada, both in investment banking and in its wealth management arm. In investment banking, the strategy has largely involved hiring well-known figures from the sector who have a long-term track record. Recent additions over the past two years have included: Jim Tower, to cover power and infrastructure investment banking; Glenn Gatcliffe, handling consumer, agriculture and manufacturing; and Craig McDougall as head of mergers and acquisitions.
In wealth management, Raymond James acquired MacDougall MacDougall & MacTier Inc. in May, one of the few sizable independently owned financial-services firms left standing. The acquisition added $6-billion in assets under administration to Raymond James's businesses, bringing its total to $33-billion at the time of the deal.
Tim Kiladze