Eight Capital Winding Down, Top Staff Joining Stifel

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Eight Capital Winding Down, Top Staff Joining Stifel
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Canadian investment dealer Eight Capital Corp. is shutting down, with many of its key employees moving to Stifel Financial Corp. The partnership voted to dissolve on Tuesday, confirming an earlier report by the Globe and Mail. About a dozen Eight Capital staff, including senior bankers, are expected to join Stifel's Canadian operations.

Jacob Lorinc and Christine Dobby -- Canadian investment dealer Eight Capital Corp. is winding down and many of its top staff are headed to Stifel Financial Corp., according to people familiar with the matter.

The partnership at Eight Capital, with offices in Toronto, Calgary and Montreal, voted to dissolve on Tuesday, the person said, confirming an earlier report by the Globe and Mail newspaper. Bloomberg is not naming the people because they are not authorized to disclose the information. About a dozen staff from Eight Capital, including some senior bankers, are set to join the Canadian operation of St. Louis, Missouri-based Stifel, according to one of the people. Representatives for the two firms did not return requests for comment Wednesday evening.

Eight Capital was formed in 2016 out of a firm previously known as Dundee Capital Markets and was a prominent player in the junior mining sector. As Eight Capital, the firm was also active in the bubble of financing activity that occurred around the legalization of recreational marijuana in Canada in 2018.

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