Canada’s GMP Capital Eyes Growth in Asia
Toronto-listed GMP Capital Inc, GMP.T +3.00% which provides advisory, underwriting and investment banking services to the natural resources sector, has been active in Australia since June 2011. Its president and chief executive Harris Fricker spoke to MoneyBeat on a recent trip to Sydney about the firm’s growth ambitions and his take on global equity capital markets. The below interview has been edited.
WSJ: What attracted GMP to Australia following your entry into London in 2006?
HF: London was a natural market for us given the bid for resources in Europe. Our success there caused us to look into the Australian market because it had identical rule of law, very common cultural traditions and very similar regulation. We thought we’d understand it very quickly. Secondly, it was being driven by the same macroeconomic factors that were driving Canada, and that was demand for commodities, stemming from the growth in Asia.
WSJ: How do you intend to grow GMP in Australia, perhaps with some acquisitions or new offices across the country?
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