(April 27 – 13:55 ET) – BMO Nesbitt Burns has hired a team led by Robert B. Nolan Jr. and Bruce A. Eatroff, formerly of CIBC World Markets, to develop its media and telecommunications investment banking and merchant banking businesses. In addition, it announced the commitment of US$450 million to fund merchant banking investment in this sector.
This team represents an increased commitment to BMO Nesbitt Burns’ U.S.-based activity in media and telecommunications and complements its existing North American business in this sector. Based in New York, the team includes: Christopher H. Ruth, Timothy M. Brown, James T. Slater and Andrew S. Zamfotis.
Nolan will be the head of Global Media and Telecommunication Merchant Banking and will assist in the development of the investment banking business. Nolan previously managed the U.S. media and telecommunications investment banking business for CIBC World Markets. He has more than a dozen years’ experience providing financial advice and capital raising services to the media and telecommunications sector and has previously held senior positions in investment banking with UBS Securities and Goldman, Sachs.
Eatroff will be the head of U.S. Media and Telecommunication Investment Banking and will also assist in the merchant banking activities. Prior to his most recent position as a senior member of the Media and Telecommunications investment banking team, Eatroff spent several years at UBS Securities and Goldman, Sachs and has broad international capital raising and advisory experience.
The investment of $450 million US will be targeted toward emerging and established media, communications and Internet service companies. The types of investments will include direct private equity, mezzanine debt and investments in private equity funds managed by others.
-IE Staff