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Goldman Sachs names Luke Gordon head of Canadian mergers and acquisitions

Investment bank Goldman Sachs & Co. signalled it expects the torrid pace of cross-border takeover activity to continue.

Richard Drew/AP

Investment bank Goldman Sachs & Co. signalled it expects the torrid pace of cross-border takeover activity to continue by naming a veteran deal maker to the newly created role of head of Canadian mergers and acquisitions.

Goldman recently announced that Toronto-based managing director Luke Gordon, who joined the firm in 1999, is taking responsibility for advising Canadian clients on takeovers, as part of the global team that focuses on M&A assignments.

"Canada is a critical market for the Goldman Sachs M&A franchise, and Luke is one of our most talented M&A bankers, bringing both a wealth of general and Canadian specific M&A experience," said Michael Carr, global co-head of M&A at New York-based Goldman.

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Mr. Gordon is a Queen's University graduate who focused in the past on the natural-resource sector and worked in New York before moving to Goldman's Toronto office in 2005. Last week, he helped private-equity fund Alinda Capital Partners on its $2.82-billion sale of Toronto-based Reliance Home Comfort to a company controlled by billionaire Victor Li.

Mr. Gordon's appointment comes after the investment bank appointed veteran banker Jason Rowe as chief executive of Goldman's Canadian operations in January.

"I am excited Luke is taking on this leadership role in helping grow our Canadian business," Mr. Rowe said. "Having talented bankers like Luke in the region partnered with the global reach and capabilities of the broader Goldman Sachs platform is what allows us to deliver the greatest value to our clients."

Goldman ranked fifth among investment banks for Canadian M&A advisory mandates last year, according to statistics compiled by Thomson Reuters, working on 22 transactions valued at a total of $84.2-billion (U.S.)

The past two years have seen a sharp increase in outbound takeovers, as Canadian companies acquired foreign businesses, a trend that is expected to continue as domestic firms look outside Canada for growth. Last year, Canadian companies acquired firms outside the country in 633 deals and spent a record $128.1-billion, according to Thomson Reuters. The value of takeovers launched in 2016 was up 12 per cent from the previous year and more than twice the $58-billion of foreign takeovers seen in 2014.

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Business Columnist

Andrew Willis is a business columnist for the Report on Business at The Globe and Mail, based in Toronto.He has been in business communications and journalism for three decades. More

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