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Outside of the CIBC building at King and Bay St., Toronto.Fernando Morales/The Globe and Mail

STREET MOVES GALORE

CIBC snags analyst from GMP

Energy infrastructure analyst Robert Catellier has left GMP Capital Inc. for a new position at the capital markets arm of Canadian Imperial Bank of Commerce.

On Wednesday, GMP sent out a note informing clients that Mr. Catellier had departed.

Mr. Catellier has taken an analyst position with CIBC World Markets Inc. He and Paul Lechem will cover the energy infrastructure and pipeline sector. A spokesperson with CIBC confirmed that Mr. Cattellier will take over coverage of stocks that used to be covered by David Noseworthy. CIBC parted ways with Mr. Noseworthy late last year.

Mr. Catellier had been with GMP since early 2014 and covered companies such as Enbridge Inc., TransCanada Corp. and Pembina Pipeline Corp. Before GMP, he worked at Macquarie Capital Markets Ltd. Canada as a pipelines analyst for about 2 1/2 years.

Mr. Catellier has won multiple Thomson Reuters StarMine analyst awards, which recognize excellence in the field. In 2015, he was named the top stock picker in the oil, gas and consumable fuels sector.

The normally sleepy pipeline sector has seen some movement within its ranks recently. Just before Christmas, Matthew Akman, who was an analyst with Scotia Capital Inc., left the industry entirely, joining Enbridge Inc. as head of corporate strategy. Scotia hasn't yet announced a replacement for Mr. Akman.

Cormark loses banker to top-performing Canadian hedge fund

Cormark Securities Inc. has lost another key capital markets employee to the buy side. Investment banker Vay Tham is leaving the firm after an almost-six-year run. On Monday, he'll join the investment team at Forge First Asset Management.

Forge First was started in 2012 by Andrew McCreath, a serial Bay Street entrepreneur, former mutual fund manager and host with Business News Network (BNN). Mr. McCreath and Mr. Tham go way back.

"I've known this guy for basically 20 years. I hired him as a student and we worked together in a previous business," Mr. McCreath said in an interview.

"Now he's coming back and joining me after a bunch of years as an investment banker. That of course brings a different perspective to the team."

Mr. Tham was a founding partner at Waterfall Investments, an earlier hedge fund company also started by Mr. McCreath. Sentry Investments bought the firm in 2008. Post-Waterfall, Mr. Tham joined National Bank as an investment banker. In 2010, he moved to Cormark, where he specialized in technology, media and industrials. Story

DBRS adds new Canadian head with banking background

DBRS Ltd. is bringing in a new leader with banking experience to oversee operations in Canada as the business pursues international expansion.

The Canadian-based rating agency said Douglas Turnbull would step into the newly created role of vice-chairman and Canadian country head.

Mr. Turnbull has worked in the investment banking industry for more than three decades. He held positions at BMO Nesbitt Burns Inc., and was most recently deputy chairman at TD Securities Inc. His focus has been on government deals, such as infrastructure and debt financings, as well as covering sovereign, Crown corporation and other government clients around the world. More recently, Mr. Turnbull has been active on many boards, including those of Metrolinx, the Ontario Financing Authority and the Toronto Financial Services Alliance. Story

Dentons snags China hand

Calgary lawyer David Lefebvre, who made his name acting for Chinese state-owned enterprises shopping for Canadian-owned oil assets, is leaving Gowling Lafleur Henderson LLP for Dentons Canada LLP, his new firm announced Wednesday.

The move comes as the low price of oil has dampened interest in the sector and three years after the previous federal government restricted the ability of state-owned enterprises to buy controlling stakes in the oil patch, stalling Chinese investment. Story

Valeant's troubles spurred return of ex-CFO to his 'family'

Valeant Pharmaceuticals International Inc.'s former chief financial officer recently offered to come back to help the company's leader, Michael Pearson, face government, short-seller and analyst criticisms.

"When your family is attacked, you go home. I told Mike I was willing to help," Howard Schiller said in a December interview, when he reflected on Valeant's crisis and recovery plan.

Now, Mr. Schiller is taking over for Mr. Pearson, who has been hospitalized for about two weeks with a severe case of pneumonia. As interim chief executive officer, Mr. Schiller will oversee Valeant's efforts to recover from a crisis period that caused the stock price to fall more than 70 per cent between mid-September and mid-November of 2015. Story

MERGERS AND ACQUISITIONS

The kindling for garbage M&A worth billions

Canadians don't talk much about the business of garbage collection. Our conversations are often saved for the hostile situations when cities cut costs by outsourcing the work.

But it's a big enough business that Progressive Waste Solutions Ltd., based in Vaughan, Ont., has earned a valuation near $4-billion. And there is a chance that the company will now get bought for even more.

This week, Progressive Waste announced that its board has initiated a strategic review "with the objective of enhancing shareholder value." That is typically code for "putting ourselves up for sale." Story

If you have any story suggestions for Daily Deals, e-mail us at deals@globeandmail.com or nmcgee@globeandmail.com.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 3:59pm EDT.

SymbolName% changeLast
B-N
Barnes Group
-0.88%37.15
CM-N
Canadian Imperial Bank of Commerce
+1.3%50.72
CM-T
Canadian Imperial Bank of Commerce
+1.13%68.67
ENB-N
Enbridge Inc
+0.53%36.18
ENB-T
Enbridge Inc
+0.29%48.95
M-N
Macy's Inc
+0.71%19.99
NB-T
Niocorp Developments Ltd
+0.82%3.68
PBA-N
Pembina Pipeline Cor
+0.71%35.34
PPL-N
PPL Corp
+0.4%27.53
PPL-T
Pembina Pipeline Corp
+0.42%47.81
TRI-N
Thomson Reuters Corp
-0.08%155.83
TRI-T
Thomson Reuters Corp
-0.41%210.8
TRP-N
TC Energy Corp
+1.41%40.2
TRP-T
TC Energy Corp
+1.19%54.44
X-N
United States Steel Corp
-0.59%40.78

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