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Rating:BMO Lures an Equity Honcho from Barclays Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 26, 2013

BMO Lures an Equity Honcho from Barclays

Reported by Tommy Fernandez

BMO Capital Markets has hired David Porcelli to serve as the firm's new co-Head of U.S. Equities.

Porcelli was previously head of America's Equity Distribution for Barclays Capital's equities division, where he was responsible for the United States, Canada and Latin America.

At BMO, he will serve as managing director and co-head of U.S. Equity Products, based in New York. He will work with U.S. equities co-head Alan Tannenbaum to oversee BMO's growing portfolio of U.S. equity-product sales and trading clients. Both will report to Mike Miller, Managing Director and Head of Equity Products at BMO Capital Markets.

"Dave brings nearly 25 years of experience as a senior equities trading and sales executive, adding to the build-out of our U.S. equity trading capabilities," stated Miller. "Adding Dave to our existing team of professionals further positions us as a leading North American equity sales, trading and research franchise. BMO Capital Markets Equity Research coverage has just passed the 1,000 company mark, most of which are in North America."

Here is the press release:
Company Press Release

BMO Capital Markets Bolsters U.S. Equities Expertise with Top Hire



NEW YORK, NEW YORK -- BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (NYSE:BMO)(TSX:BMO), today announced the hire of a new co-Head of U.S. Equities, fortifying its U.S. equities expansion efforts.

David Porcelli, an industry veteran of equity sales and trading across the Americas, has joined BMO Capital Markets as Managing Director and Co-Head of U.S. Equity Products, based in New York. Mr. Porcelli was most recently head of America's Equity Distribution for Barclays Capital's equities division, where he was responsible for the United States, Canada and Latin America. Prior to that, he spent nearly two decades in equity trading at Lehman Brothers, and brings with him a lifetime of client relationship building.

At BMO Capital Markets, Mr. Porcelli will co-head U.S. equities with Alan Tannenbaum, who joined the bank in 2010. Together they will oversee a growing portfolio of U.S. equity-product sales and trading clients. Both will report to Mike Miller, Managing Director and Head of Equity Products at BMO Capital Markets.

"Dave brings nearly 25 years of experience as a senior equities trading and sales executive, adding to the build-out of our U.S. equity trading capabilities," said Mr. Miller. "Adding Dave to our existing team of professionals further positions us as a leading North American equity sales, trading and research franchise. BMO Capital Markets Equity Research coverage has just passed the 1,000 company mark, most of which are in North America."

Global equity markets are edging higher amid broader economic optimism and as the uncertainties that prevailed over the past few years show signs of fading. Equity financings and IPOs are also returning to the market as companies move to take advantage of recovering stock markets, particularly in the United States.

"We see the U.S. economy and U.S. stock market as one of the most attractive markets out there for the balance of this decade," Mr. Miller said. "There looks to be some real momentum in the U.S. and I think there will be a resurgence of IPOs of exciting new companies as the economy mends.

"I am confident that Dave Porcelli will help us build a top ranked US equity trading team at BMO Capital Markets."

About BMO Capital Markets

BMO Capital Markets is a leading, full-service North American financial services provider, with 2,300 employees operating in 16 North American offices and 29 worldwide, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group, one of the largest diversified financial services providers in North America with total assets of $555 billion and more than 46,000 employees as at April 30, 2013.
 

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