BMO Capital Markets

BMO Capital Markets

April 06, 2011 09:02 ET

BMO Capital Markets Expands High Yield Business in Canada

- Dan Atack and Piper Kerr Will Be Responsible for Trading Canadian-Issued High Yield Bonds as Part of the Leveraged Finance Distribution and Trading Team

- Demand for Canadian Issued High Yield Bonds Growing

TORONTO, ONTARIO and NEW YORK, NEW YORK--(Marketwire - April 6, 2011) - BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (NYSE:BMO)(TSX:BMO), announced that it is expanding its high yield business in Canada with the additions of Dan Atack, Managing Director, and Piper Kerr, Director, to the BMO Capital Markets Leveraged Finance Distribution and Trading team. They will report to David Weiss, Head of Leveraged Finance Distribution and Trading, BMO Capital Markets.

"The demand for Canadian-issued high yield bonds is a fast-growing segment of our business across North America," said Mr. Weiss. "As debt markets grow more specialized, our clients are coming to us for innovative trading ideas because of our market-leading expertise."

Based in Toronto, Mr. Atack and Ms. Kerr will be responsible for trading Canadian-issued High Yield bonds and will work closely with the firm's Syndicate and Debt Capital Markets and sales teams, as well as with Ted Lunney, Head of U.S. High Yield Trading, who will continue to be responsible for all U.S. dollar trading. 

Mr. Atack, who joined BMO in 1992, has a significant background in the High Yield market, having been a high yield trader and senior portfolio manager at BMO's high yield asset manager, HIM Monegy. Most recently, Mr. Atack oversaw the North American and European corporate credit derivative books. He has a Bachelor of Commerce from Queen's University and is a CFA charter holder.

Ms. Kerr is also an experienced participant in the High Yield market, having been a high yield trader and an assistant portfolio manager with HIM Monegy. Ms. Kerr joined BMO in 1996 and, most recently, was a CDS trader for the North American and European corporate credit derivative books. She has an MBA from the Schulich School of Business and is a CFA charter holder.

BMO Capital Markets recently acted as sole bookrunner for Perpetual Energy Inc., the firm's first sole bookrunner mandate for a Canadian dollar high yield transaction. BMO's high yield business is a North American effort, based in New York and Toronto, and focuses on both U.S. and Canadian high yield investors and issuers. In addition to Perpetual Energy, BMO was a joint book runner for Paramount Resources Ltd., Skylink Aviation Inc., and Ford Credit Canada Limited. Recently, BMO also acted as a co-manager on other Canadian dollar transactions for Livingston International, Quebecor Media Inc., Vermilion Energy Inc., and Armtec Holdings Ltd.

About BMO Capital Markets

BMO Capital Markets is a leading, full-service North American financial services provider offering equity and debt underwriting, corporate lending and project financing, merger and acquisitions advisory services, merchant banking, securitization, treasury management, market risk management, debt and equity research and institutional sales and trading. BMO Capital Markets has more than 2,000 employees operating in 26 locations around the world, including 14 in North America. In 2010, BMO Capital Markets led 365 capital raising and M&A transactions totaling $120 billion for our clients.

BMO Capital Markets is a member of BMO Financial Group (NYSE:BMO)(TSX:BMO), one of the largest diversified financial services providers in North America with CDN$413 billion total assets and 38,000 employees as at January 31, 2011.

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