Former Stifel Nicolaus energy analyst joins Raymond James

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Oil and gas analyst Kurt Molnar has joined Raymond James after a short stint as a free agent, making him the second research professional to join the firm's Calgary office in as many weeks.

Mr. Molnar had been small- and mid-cap oils analyst at Stifel Nicolaus, the U.S.-based brokerage that shut down its Canadian operations in August as revenue dried up in a weak equity market.

He will cover the same class of energy producers at Raymond James, according to an industry source familiar with the appointment.

Last week, Raymond James hired former AltaCorp Capital Inc. research analyst Chris Cox to cover large-cap exploration and production companies.

The firm had been left with vacancies in July, when senior analysts Justin Bouchard and Kristopher Zack quit to become co-heads of energy research for Desjardins Securities Inc.