David is a Managing Director in Scotia Capital’s Investment Banking division and is the Head of the Financial Institutions Group. David Joined Scotia Capital in early 2002 and since that time his primary focus has been for clients in the insurance industry – both property & casualty and life insurance.
In his 12 years of covering the financial services industry, David has helped raise over $15.0 billion of capital for the insurance sector in the capacity of Lead Manager, including multiple transactions for the following clients: Manulife Financial; Great West Life; Sun Life Financial; Industrial Alliance; Kingsway Financial; the Co-operators Group; and Northbridge Financial. In addition, David was instrumental in the innovative $500 million financing for the Bermuda based life reinsurance start-up, Aurigen Re. David was also Scotia Capital’s team leader in advising Manulife Financial on the $15.0 billion acquisition of John Hancock.
Prior to joining Scotia Capital, David was the Partner in charge of financial services investment banking at GMP Securities and elevated GMP’s coverage of the insurance sector across the corporate finance, research, sales and trading functions, including a role in the equity research department.
David started his career specializing in the financial services sector in the Business Development department of Manulife Financial working for Donald Guloien, where he focused on Insurance and Asset Management acquisitions. In his role in Business Development he also worked on the demutualization of Manulife which culminated in the largest IPO in Canadian history.
David holds a B.A. (Honours) in Economics and Political Science from McMaster University (summa cum laude) and an M.B.A. from the Joseph L. Rotman School of Management at the University of Toronto.