A year ago, TD Securities Inc. went out and grabbed insurance and banking analyst Mario Mendonca from Canaccord Genuity Corp. The results of the annual survey of investors by Brendan Wood International show why TD did it as Mr. Mendonca was named analyst of the year for Canada.
BWI surveys investors about how they allocate commissions to pay for research, which is at the heart of why securities firms are in the business of analyzing stocks. They want to provide clients with good ideas, and get paid for them. And it helps if solid coverage of companies leads those companies to show up with investment banking mandates that pay large fees, like merger advisory and underwriting work.