Merrill Lynch Canada has snagged a seasoned salesman from Barclays Capital Canada.
Sid Malkani, director of equity sales for the past four years with Barclays, has taken a position with Merrill, according to a source familiar with the hiring.
Barclays declined to comment. Merrill did not immediately respond to a request for comment.
Mr. Malkani will be a familiar face to some at Merrill. Earlier in his career, he spent roughly three years at the U.S. brokerage in equity research sales.
Mr. Malkani is the second member of Barclays' Canadian capital markets team to leave recently. Ted Leeb, a former trader with Barclays, left for BMO Nesbitt Burns about a month ago, sources said.
The Britain-based multinational bank is a relatively small player in underwriting in Canada, but it is a force in financial advisory work. Barclays is sitting in third place year-to-date, in the league tables that rank brokers in mergers and acquisitions (M&A) in Canada, according to Bloomberg data.
On Monday, Barclays was one of three advisers that Manitoba Telecom Services' board named in its $3.1-billion sale to BCE. (TD Securities and CIBC World Markets also advised MTS).