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Moves on the Street: Sangha starts firm, Savona joins Maxfin

Corner of Bay Street and Adelaide streets in Toronto. July 25, 2013.

Gloria Nieto/The Globe and Mail

Longtime mining banker Bob Sangha is striking out on his own with a new advisory firm called Maxit Capital.

Mr. Sangha was recently at Dundee Securities Corp., where he was brought in in 2010 to add to the firm's mining heft. Unfortunately, the sector has been very quiet since then. Before that he as a managing director at BMO Nesbitt Burns Inc. in their mining and metals team, and before that he was at CIBC World Markets Inc..

Another well-known face in Toronto financial circles, Nick Savona, has a new job. He has joined Global Maxfin Capital. The small firm has slowly been building its sales desk in the past couple of years. The firm has an electronic execution group, as well as a research side focused on technology and special situations.

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Mr. Savona will be on the institutional sales desk, and will launch a business handling employee stock option exercises and buybacks for public and private issuers. Over the years he has worked at TD Securities Inc., ITG Canada and Liquidnet, as well as being active in the Securities Traders' Association and serving as a member of the hearing committee for the industry's self-regulatory body.

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