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Scotiabank appoints head of US equity research to lead coverage expansion

Stuart Linde, the former global head of research at Barclays Capital Inc., has joined Bank of Nova Scotia to lead the U.S. equity research operations.

Linde, who is based in New York, joined Scotiabank in October and is expected to lead a coverage expansion into new sectors, according to an internal company memo.

Scotiabank has been making efforts to widen its research universe. It recently launched coverage of the U.S. real estate investment trust sector and has expanded research in its U.S. energy investment business, Scotia Howard Weil, to include coverage of master limited partnerships, power utilities and liquefied natural gas, according to the memo.

Along with Barclays, Linde also held research director positions at Lehman Brothers Inc. and CRT Capital Group LLC.

Linde, who started his career in equity research as an analyst covering leisure and casino companies, joined Lehman in 1998 and in 2003 started leading the company's U.S. equity research team.

In 2008, he moved to Barclays Capital, which purchased Lehman's North American investment banking and capital markets operations at the height of the financial crisis. He spent nearly six years at Barclays, and in 2015 moved to CRT Capital, which had been expanding in equities and purchased Sterne Agee LLC's institutional business that same year. But in 2016, CRT decided to shut down its operations.