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UPDATE 2-JPMorgan names ex-UBS exec to head Calgary office
April 5, 2010 / 8:52 PM / 8 years ago

UPDATE 2-JPMorgan names ex-UBS exec to head Calgary office

* Names Harrison head of new Calgary office

* Canada’s oil industry recovering from recession (Adds biographical details)

CALGARY, Alberta, April 5 (Reuters) - JP Morgan said on Monday it is setting up an investment banking business in Calgary as Canada’s oil patch emerges from the economic meltdown with a host of equity financings and new projects.

The investment banking arm of JPMorgan Chase & Co (JPM.N) said David Harrison, former head of energy banking at UBS Securities Canada UBSN.VX, will lead the new operation in the western city that is home to the bulk of the country’s energy sector.

    JP Morgan ranked fourth in the first quarter in terms of global advisers by deal value.

    Several energy companies have recently rekindled oil sands projects they had shelved during the recession, and last week Athabasca Oil Sands Corp launched an initial public offering that is the largest in Canada in years.

    Harrison had been with UBS Canada since 1995. There, he was responsible for such sectors as oil and gas, power and pipelines, chemicals and forestry.

    He is due to start with JP Morgan on June 1. (Reporting by Jeffrey Jones and Elinor Comlay; editing by Peter Galloway)

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