National Bank Financial has named a new leader for its equity capital markets group, and also added a familiar face to the team in order to bolster client coverage.
Chris Dale, who has worked at NBF for nearly two decades and is respected across the investment bank, has been appointed the dealer’s new ECM head. He joined the group in 2007 and most recently served as the head of syndication, leading the investment bank’s co-ordination with other underwriters involved in its equity financings.
NBF has also added Dan Nowlan to its ECM team. Mr. Nowlan is well known on Bay Street and was previously co-head of ECM at CIBC World Markets. He is also active in federal politics and served as chief of staff to former finance minister Joe Oliver. He joined NBF in early 2017 as a vice-chair in investment banking.
The changes follow the departure of Mark Mulroney, who previously led NBF’s ECM team. Mr. Mulroney is joining Bank of Nova Scotia’s investment dealer as a managing director and senior strategic-relationship manager. He starts work at Scotiabank in June.
Equity capital markets groups play a crucial internal role within investment dealers, serving as a bridge between the trading floor and investment banking. ECM groups are heavily involved in pricing share sales and also communicating with all of the underwriters involved in a deal.