Four pumpjacks on the prairie.Andrew Penner/Getty Images/iStockphoto
Integral Wealth Securities Ltd. has reached into the oil patch to beef up its energy investment-banking business, hiring former Sinopec Daylight Energy Ltd. CEO Anthony Lambert as managing director in its capital markets division.
The appointment of Mr. Lambert, an oil patch veteran, adds depth to Integral's ability to evaluate oil and gas properties as well as experience with tapping equity and debt markets, it said.
Mr. Lambert co-founded Daylight Energy Ltd., which Chinese state-owned Sinopec Corp. bought for more than $2-billion in 2011. He then ran the company on behalf of the acquirer until stepping down last September.
His appointment follows that of George (Geo) Wilson, who came out of semi-retirement last autumn to join Integral as head of energy investment banking. Mr. Wilson was vice-chairman and a managing director at Canaccord Genuity until early 2011.
"Anthony has direct experience in evaluating, acquiring and operating oil and gas assets across the Western Canadian basin but at the same time understands what the capital markets demand of today's CEOs and management teams," Integral Cheif Executive John Gibson said.
Through his 30-year career, Mr Lambert, a petroleum engineer by trade, secured $900-million of equity, made $2.5-billion of acquisitions and sold $235-million of non-core assets.
There were also setbacks. Last summer, Mr. Lambert agreed to pay $229,000 to settle allegations levelled by the Alberta Securities Commission that he acted contrary to the public interest when he bought Daylight Energy shares in August 2011, after receiving a letter three days earlier from Sinopec proposing deal talks.
Upon agreeing to the settlement, he said he made an error of judgment, though he had sought the advice of legal counsel.
Integral provides financing and advisory services to energy companies of all market value sizes.
Jeffrey Jones