FirstEnergy Capital Launches Operations in London, England
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Thu, 29 Oct 2009 15:30:12 GMT |
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CALGARY, Oct. 29 FirstEnergy-London
CALGARY, Oct. 29 /PRNewswire/ - FirstEnergy Capital ("FirstEnergy"), Canada's leading energy-focused investment bank, is pleased to announce the official opening of its office in London, England and the expansion of its energy-focused investment banking activities internationally. FirstEnergy's UK operations will provide European and international clients a full suite of energy investment banking services, including capital raising, equity research, sales & trading, corporate mergers & acquisitions, and oil and gas property acquisitions & divestitures.
The opening of the office in London also brings FirstEnergy's North American clientele closer to UK and other European investors who continue to maintain a high degree interest in investing in North American energy assets.
"Having thoroughly established our credentials in North America, we felt the timing was right to make a serious push to expand globally," commented Jim Davidson, Chairman and CEO of FirstEnergy. "Not only has our alliance with Societe Generale opened many doors and product expansion opportunities for us, but the recent global recession and its impact on the investment banking industry and costs overall, provided us with a perfect entry point into London. It was an ideal time to expand." Mr. Davidson went on to point out that the company made sure to transfer its winning corporate culture to London by sending one of its Calgary-based Managing Directors, Hugh R. Sanderson, to help lead its new London operation together with local investment banking professional, Richard A. Hail.
"Our sales and research teams have been present in London since we opened in Calgary in 1993, with key individuals consistently travelling to London to ensure we were meeting our UK and European client requirements," said John Chambers, Managing Director and President of FirstEnergy. "Energy is obviously a global business and it is logical for us now to open an office and staff it with some leading talent from the UK to allow us to establish new relationships and expand our reach in this important energy and financial centre."
Over the past several years FirstEnergy has completed an equity partnership with Societe Generale, launched an oil and gas property Acquisition and Divestiture group that has won a number of high profile mandates, and continued to aggressively expand its Calgary-based operations. With this step to grow its international presence, the company is continuing to execute on a strategy aimed at becoming one of the world's leading players in energy-focused investment banking.
FirstEnergy is Canada's leading energy-focused investment bank, providing full service investment banking to clients globally from its offices in Calgary, Alberta and London, England.
Backgrounder
Corporate History
Since inception in 1993, FirstEnergy Capital Corp. has grown to become the leading investment dealer focused on Canada's vibrant energy sector. The company serves the needs of energy companies and sophisticated institutional investors located around the globe.
FirstEnergy grew from entrepreneurial roots to become a leading Canadian independent investment bank. In 2005 FirstEnergy entered a formal strategic partnership with one of the world's leading financial institutions, Paris-based Societe Generale, which has allowed the company to extend its global reach and the depth and sophistication of the financial products it offers.
Corporate Finance Activities
FirstEnergy's Corporate Finance Team serves the needs of Canadian and International energy companies through all stages of their development, including private and public equity underwriting and merger, acquisition, divestiture and valuation advisory services. FirstEnergy's client base encompasses the full energy spectrum - oil and gas producers, oilfield services companies, pipelines, power and infrastructure companies and income trusts. FirstEnergy's dedicated professionals have expertise in finance, accounting, portfolio management, petroleum engineering, geology and geophysics.
Our record as a leading investment bank reflects the depth of our knowledge and experience. Since FirstEnergy's inception, we have participated in over 850 equity financings, with a value of more than $60 billion (Cdn). Over the past five years, FirstEnergy has become the leading underwriter in the Canadian oil and gas, participating in over 50% of all financings in the sector. FirstEnergy also leads or co-leads approximately half of the financings it participates in, reflecting client confidence in the company's ability to achieve optimal pricing and distribution.
In addition, FirstEnergy has been involved in a broad range and extensive number of advisory assignments. Since inception, the company has advised on over 225 M&A transactions, with a cumulative value in excess of $100 billion (Cdn).
A Commitment to Community
From the beginning, charitable giving and community support have played an integral role in the development of FirstEnergy's corporate culture. Company policy is to regularly give a minimum of 2.5% of gross profits to charities and community groups, but usually much more is given on an annual basis. Over the last 16 years, FirstEnergy has donated in excess of $8.0 million to over 500 charities and community organizations. Senior managers and staff have joined in with personal donations in excess of $24 million during that same period. The company is proud to have given cumulatively over $32 million, or over $2 million per year since inception.
Sales and Trading
The Institutional Sales and Trading Team specialize in analysis and investment advice regarding companies involved in almost all aspects of energy. FirstEnergy's Private Client Sales Team is focused on selected high net worth clients and contributes significantly to trading volume, market share and industry insight.
FirstEnergy is consistently one of the most active traders of energy issues on the TSX, frequently ranked as one of the most predominant boutique traders of more than 30 dealers involved in the energy sector. The company's singular focus and knowledge of energy distinguishes it from competitors.
Research
FirstEnergy's objective is to provide clients with timely, accurate and insightful research that assists in managing investment decisions. Often the company's research team or individuals within the team are ranked as top research analysts within various energy sector segments. Recent examples of this recognition include:
- Kevin Lo, Vice President, Institutional Research, was ranked # 3 by
Brendan Woods in 2008 and was ranked # 1 in terms of client
contact.
- William Lacey, Managing Director, Institutional Research, ranked
# 4 in Canada's Top Research Analysts in both 2006 and 2007
- William Lacey ranked # 5 in Wall Street Journal's Best on the
Street Analysts Survey in Oil & Gas Producers category - 2007
Research is just one area where the firm is regularly recognized for
excellence. A sampling of some of the other recognition the firm has received
recently includes:
- FirstEnergy named as top Canadian Independent deal maker in 2007 by
The Financial Post
- FirstEnergy was named Overall Best Place to Work by CalgaryInc.
Magazine in 2006
SOURCE FirstEnergy Capital Corporation
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