Macquarie Capital Markets Canada Ltd. has added to its Calgary research department following the recent departure of a veteran energy analyst.
Macquarie has hired Brian Kristjansen, who had covered small and mid-sized exploration and production companies for Dundee Capital Markets Inc.
Mr. Kristjansen joins Brian Bagnell, who also covers oil and gas at Macquarie in Calgary.
The move follows the departure of Chris Feltin, who recently signed on at Seven Generations Energy Ltd. as vice-president of corporate planning. Mr. Feltin had been an analyst at the Australian-based bank and its Canadian predecessor for a dozen years.
The hiring of Mr. Kristjansen represents the latest in several analyst additions at Macquarie this year.
Gus Papageorgiou, formerly with Scotia Capital, joined in March. Then in April, Michael Glen, an analyst in industrials previously with Laurentian Bank Securities, joined the dealer. The firm also hired base-metals analyst Matt Murphy, previously with UBS Securities Canada Inc., and David Noseworthy, a pipelines and utilities analyst formerly with CIBC World Markets Inc.
The additions come as other foreign-owned banks slim down. Last week, Credit Suisse Group AG cut jobs, including some senior ones, in Canada as part of a narrowing of focus. The decision resulted in the departure of eight employees, including Canadian analysts who follow financial services, consumer products and telecom stocks.