BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group, has promoted a new head for its financial sponsors group. Dirk Leasure will be based in New York and will lead a team of investment bankers in New York and Chicago who specialise in helping US private equity firms.
The group provides advisory services as well as acquisition financing for leveraged buyout transactions. US private equity firms have had difficulty finding lenders for buyouts amid the credit freeze. The group also advises on add-on acquisitions and exits.
“The private equity community remains vibrant and a strong source of investment and corporate banking revenue,” said Dominic Petito, the co-head of BMO Capital Markets’ US investment and corporate banking group. “As the financial markets and our economy recover, financial sponsors will become an even more active and important client group.”
As the markets continue to recover, BMO said in a statement that it anticipates “a substantial increase in private equity activity into 2010 and beyond”.
Before joining BMO Capital Markets in 2002, Leasure spent eight years with Goldman Sachs working with financial sponsors in its leveraged finance group. He also spent two years leading that group's efforts with sponsors in London.