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Canaccord Genuity is adding more bulk to its U.S. investment banking arm, aiming to diversify its revenues at the same time.
The Canadian dealer has hired two senior bankers and a research analyst in Nashville who will focus primarily on covering health-care clients.
Dudley Baker and Roger Briggs will both assume the roles of managing directors in investment banking, joining from a midterm dealer and a private equity firm, respectively. Mr. Briggs will also cover financial sponsors. Richard Close is heading to Canaccord as a research analyst for health care.
The moves come after Canaccord recently hired five new U.S. professionals to beef up its coverage of real-estate investment trusts south of the border. All five men joined from mid-market firm MLV & Co.
Canaccord is keen on diversifying its revenue base beyond resources, and the recent additions should help to fulfill that goal. Earlier this year, the dealer cut 4 per cent of its staff globally, with the losses targeted in Britain, Europe and the United States.