By James Langton
(April 10 – 18:15 ET) – Biotech analyst Hari Sambasivam has been lured away from TD Securities Inc. Sambasivam is starting immediately with Merrill Lynch Canada, covering biotechs, pharmaceuticals, and health care.
Sambasivam has been rated in the top two in the biotech sector over the past three years. Merrill’s research director Steve Garmaise said in a memo to his firm, “In our extensive research among institutional investors and corporate issuers, Hari consistently showed up as the best in the business.”
Garmaise says that Sambasivam is highly regarded for his industry knowledge, understanding of scientific trends, and stock-picking accuracy. He began working in the industry in 1993 with Deutsche Morgan Grenfell Canada and switched to TDSI in 1997. Before that he worked in the drug industry at Novopharm and Warner Lambert.
Sambasivam has a PhD. in biochemistry from the University in Toronto and an MBA from the University of Western Ontario. In nabbing Sambasivam, Garmaise says that the firm has “further indication that our combination of global reach and local expertise is gaining momentum.”