There is no sector much hotter than the technology sector, and with interest on the rise, Canaccord Genuity is adding to its mergers team.
The investment banking firm said it hired David Istock as a managing director specializing in mergers and acquisitions. He will work out of San Francisco and focus on technology, the firm said in an internal announcement.
Mr. Istock has worked at Cowen & Co., UBS and PaineWebber. He also co-founded a venture capital firm called Bluefish Ventures. At Cowen, his last stop, he was a managing director and head of technology M&A.
Canaccord's U.S. investment banking group has for the past two quarters been the firm's largest source of capital markets revenue, well ahead of Canada. With business increasing, Canaccord has been steadily adding personnel in the U.S. Recently, it branched out into high yield and added a new bond trading group.
The U.S. deal market has been busier than Canada's this year and, according to a Thomson Reuters survey of executives, corporate decision makers are expecting a sharp rise in mergers next year that would push global deal volume to its highest since 2008.