Skip to main content

A National Bank outlet in Toronto.

Fernando Morales/The Globe and Mail

Arun Chandrasekaran is returning to National Bank Financial to head up energy investment banking a year after he left to join a Calgary-based private equity firm.

The move is part of a revamp of National's office in the oil patch, which also includes the addition of an analyst.

Mr. Chandrasekaran had been a principal with Stream Asset Financial Management, in charge of finding, structuring and completing transactions for its funds, which focus on the midstream part of the energy business.

Story continues below advertisement

"There will be other changes. We're growing that platform, and also moving up the market to bigger cap names along with the mid-cap names that we're still covering," said Yanick Blanchard, National's head of corporate and investment banking.

Meanwhile, the bank has hired research analyst Travis Wood, who has covered oil and gas companies for Toronto-Dominion Bank, Mr. Blanchard said. Another hire will be announced shortly as well, he said.

The changes come after a bump in the value of oil patch mergers and acquisitions in the first half of 2016. However, oil prices have retreated by around 20 per cent since climbing above $51 (U.S.) a barrel in early June, muddying the industry's prospects.

Mr. Blanchard said he had also beefed up National's mining franchise when the industry was in a trough. "We're kind of contrarian. When everybody is divesting, we're trying to take advantage of the talent that is available out there and trying to prepare for when the market comes back," he said.

Before signing on with Stream in August, 2015, Mr. Chandrasekaran worked for a dozen years as an investment banker at National and Tristone Capital.

Ryan Dunfield, president of Stream, expressed disappointment that Mr. Chandrasekaran is leaving the firm after having helped build awareness in its early period. However, he said he understood Mr. Chandrasekaran is moving to an expanded role at National Bank, and that he's sure to act as adviser to Stream's future clients.

Meanwhile, Dan Tsubouchi, who made his name as a top energy banker at GMP Securities in Calgary, has joined Stream Asset as chief market strategist, providing internal research, and writing regular thematic reports on the sector. After leaving GMP in 2013, Mr. Tsubouchi was head of energy research at Haywood Securities.

Report an error Editorial code of conduct
Tickers mentioned in this story
Unchecking box will stop auto data updates
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter
To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies