A woman leaves a Bank of Montreal branch in downtown Vancouver. Calgary-based Gary Perron, one of Canada’s most prominent investment advisers, is starting his own Calgary-based wealth management firm after 36 years at BMO.DARRYL DYCK/The Canadian Press
Gary Perron, one of Canada's most prominent investment advisers, is starting his own wealth management firm.
For the past three decades Mr. Perron worked at BMO Nesbitt Burns in Calgary and ultimately became a branch manager. The "Perron Branch," as it was known, employed over 40 investment advisers and managed more than $7.5-billion in assets.
Mr. Perron left the bank to found his own firm, Perron & Partners Wealth Management. It is unclear precisely how many of the assets and advisers from his former BMO branch will move with him.
Mr. Perron could not be reached for comment, and BMO declined to comment.
A job posting that advertised a portfolio manager position at the new firm said that Perron & Partners believes "our clients will benefit from our independence and objectivity."
Mr. Perron is a major player in Calgary with many connections, and even sat on the board of directors of Progress Energy Resources, which was ultimately bought by Petronas for $5.5-billion.
BMO Nesbitt Burns' investment banking team was also behind some of the biggest energy deals of the past few years, including the initial public offerings for Gibson Energy and MEG Energy. A big branch like Mr. Perron's almost certainly helped the underwriters sell these financings, as well as their subsequent follow-on offerings.
Tim Kiladze