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Scotia Capital loses real estate analyst

There's going to be a bull market for research analysts in coming weeks, as Scotia Capital is now out searching for talent in two key Canadian sectors. Scotia Capital announced Friday that well-regarded real estate and REITs analyst Himalaya Jain had decided to step down at the end of February, after five years at the firm. His short-term plans are nothing more complicated than spending more time with family. The dealer is already out recruiting a senior analyst as a replacement, intending to team the newcomer with incumbent Mario Saric, who covers the apartments, lodging and diversified property companies. This will be a priority hire for Scotia Capital, as the investment bank is ramping up the resources it devotes to the real estate sector, where it is already a major lender. Scotia Capital is also out recruiting a replacement to top-ranked media analyst Andrew Mitchell this month; he left this month for money manager Phillips Hager & North Investment Management. There's always a round of musical chairs in January at the investment banks, as employees cash their annual bonus cheques and look at their career options.

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