BMO Capital Markets has snapped up industry veteran David Porcelli, who will serve as the managing director and co-head of its U.S. equity products division.
He’ll work with Alan Tannenbaum, who joined BMO in 2010. They’ll oversee the bank’s portfolio of U.S. equity-product sales and trading clients.
Porcelli was previously head of America’s equity distribution for Barclays Capital’s equities division. He was responsible for the United States, Canada and Latin America.
BMO says global equity markets are edging higher amid broader economic optimism. Equity financings and IPOs are also returning to the market as companies move to take advantage of recovering stock markets, particularly in the U.S.
“We see the U.S. economy and stock market as one of the most attractive markets out there for the balance of this decade,” says Mike Miller, managing director and head of equity products. “There will be a resurgence of IPOs of exciting new companies as the economy mends.”
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