Smart guys leaving the Street

First it was Harold Wolkin, Managing Director for more than two decades at BMO Nesbitt Burns. Then Rick Byers, also a BMO MD since the early 90s. Then Ray Sharma, the fearless wireless analyst at GMP. And now David Fleck, the head of BMO’s equity sales desk.

Very talented people are choosing to leave the pressure and mayhem of Bay Street behind. Some will go into private equity, and others will use their skills in infrastructure direct investing. One of two may show up again in a dealer. Or maybe a charitable foundation board. These decisions are extremely personal, of course, but if anyone has a handle on the business of i-banking it is this crowd.

As much as movement is required for the “younger” folks to be able to move up the ranks, just as in the military, these fellows may just be the smartest guys around. How much fun will be had during the next year or two in the equity capital markets?

Actions speak volumes. We wish them – and their familes – well.

MRM