Signage for the TD Centre faces Bay. St near King St. West in Toronto on April 17 2014.Fred Lum/The Globe and Mail
Toronto-Dominion Bank's capital markets arm is parting ways with a managing director from its financial institutions group.
Cameron Goodnough, who specialized in investment funds and has been with the bank for nearly a decade, is leaving later this month.
Well-known on Bay Street, Mr. Goodnough made waves this year for helping bring the "SPAC" structure to Canada. In February, Dundee Corp. tested the waters, raising money for a special purpose acquisition vehicle for the first time in Canada, with Mr. Goodnough serving as the company's lead adviser. SPACs have since become common on the Toronto Stock Exchange.
Mr. Goodnough's departure extends an era of change for TD's financial institutions coverage. Last fall, the bank parted ways with Peter Giacomelli, who previously oversaw coverage of financial sponsors; last November, Sante Corona, who runs the dealer's equity capital markets group, was handed responsibility for financial institutions coverage and Andrew Phillips, who heads the real estate team, was tapped to oversee financial sponsors; and last month, TD hired Alan Polak as a managing director from Canaccord Genuity.
Other dealers are going through similar changes.
Last fall, Maude Leblond was given responsibility for National Bank Financial's financial institutions team after Darin Deschamps left – he was later named the new head of investment banking for Wells Fargo in Canada. In June, Scotia Capital parted ways with Rajiv Bahl and Farooq Moosa, who previously ran the structured products and managed companies businesses, respectively.