Skip to main content

The Globe and Mail

CIBC’s Andrew Potter to join energy company

Andrew Potter has resigned as large-cap analyst at CIBC World Markets and has signed on with an as-yet unnamed energy company.

Fred Lum/The Globe and Mail

One of Canada's top-rated energy analysts is leaving the Street for a job on the corporate side.

Andrew Potter has resigned as large-cap analyst at CIBC World Markets and has signed on with an as-yet unnamed energy company, sources said. Mr. Potter, who worked for UBS Securities before joining CIBC, was ranked No. 2 analyst in oil and gas – large cap in the 2012 Brendan Wood International survey, behind BMO's RandyOllenberger.

The Calgary-based analyst was not immediately available for comment, but a source familiar with the matter said his decision was partly based on a desire for a lifestyle that includes fewer pre-dawn mornings and less frequent travel.

Story continues below advertisement

The source said CIBC has dropped its coverage of the large Canadian energy names until it finds a replacement for Mr. Potter.

The move to the client side extends a trend that has picked up in recent quarters as dealers have struggled with falling merger and acquisition business and trading volumes, especially in energy.

"Even at the best of times, I imagine the sell-side analyst job in Calgary could get pretty tiring with the 5 a.m. calls and the heavy travel schedule. But in good markets when you're making gobs of money, you can overlook those minor inconveniences," said Joe Kan, a veteran Bay Street headhunter.

"But in a bad market like this, if you've got a pile of money in the bank and you don't see a turn in sight, the grind versus lifestyle trade gets easier to make."

(Jeffrey Jones is a Globe and Mail Business Reporter.)

Return to Streetwise home page.

The Globe has launched a Streetwise and ROB Insight newsletter, with content available exclusively to Globe Unlimited subscribers. Get the best of our exclusive insight and analysis delivered straight to your inbox in a daily e-mail curated by our editors. Sign up for it and other newsletters on our newsletters and alerts page.

Story continues below advertisement

Report an error Licensing Options
About the Author
Mergers and Acquisitions Reporter

Jeffrey Jones is a veteran journalist specializing in mergers, acquisitions and private equity for The Globe and Mail’s Report on Business. Before joining The Globe and Mail in 2013, he was a senior reporter for Reuters, writing news, features and analysis on energy deals, pipelines, politics and general topics. More

Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨