Desjardins finalizes the acquisition of Guardian Capital Group Limited (opens in a new tab)
The take-private closed, merging Guardian with Desjardins Global Asset Management under Guardian CEO George Mavroudis.
Canadian Investment Bank
Capital markets and corporate banking arm of Desjardins Group, Canada's largest financial cooperative, focused on mid-market and Quebec-rooted clients.
Desjardins Capital Markets is the trade name under which Desjardins Securities Inc. carries out its institutional brokerage activities. It provides investment banking, corporate banking, fixed income and equity sales and trading, derivatives and FX, and economic and equity research for corporate, government and institutional clients. The unit is led from Montreal and in 2026 announced plans to roughly double revenue and grow headcount by about half, mostly in Toronto, with focus on mid-market M&A and financing in real estate, energy transition and mining.
3 interview reports0 open roles47 deals6 people72 sources
Equity and debt capital markets, M&A advisory and private placements, including a large preferred share underwriting franchise and a dedicated Quebec coverage team.
Syndicated and project financing, real estate financing and institutional lending for large corporates across Canada and selected U.S. regions.
Fixed income trading and institutional sales, preferred shares, financing and futures/options desks.
Equity sales and trading to institutional investors plus derivatives and FX solutions; a new OTC equity derivatives desk was being built in 2026.
Equity research and economic analysis delivered by a team of roughly 15 analysts.
Desjardins publishes no official office list for its capital markets arm. Montreal (where the unit is led, confirmed by Bloomberg and current official job postings) and Toronto (Bloomberg, Feb 2026: planned hiring hub) are confirmed. Unofficial job-aggregator copies of older postings also mention Calgary and Vancouver; these could not be confirmed on an official page and are not listed. This list may be incomplete.
| Montreal | QC | headquarters |
| Toronto | ON | office |
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Reasons that work in interviews
4 reasons for Desjardins Capital Markets
The only major Canadian dealer owned by a co-operative, which changes the client base and the time horizon on relationships.
Dominant Quebec mid-market franchise: if you want Montreal or work in French, the mandate flow here is unmatched.
Agri-food and infrastructure are genuine specialisms rather than coverage slots, reflecting the Quebec economy.
Mid-sized team means analysts work across product rather than being slotted into execution.
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Winter 2027
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Industry coverage 2
Own the client relationships in a sector and bring the mandates in.
Real Estate
Real estate investment banking (debt and equity financing, joint ventures, dispositions, M&A), led by the head of Ontario and Western Canada investment banking; real estate is one of the unit's three stated mid-market focus areas.
Mining
In 2023 a managing director was described as Head of Global Mineral Resources and Mining in investment banking; mining is named as a 2026 focus area alongside real estate and energy transition.
Product 3
Sit inside investment banking and work across the coverage teams rather than holding clients of their own. M&A is the one to understand: it does the modelling and execution on deals most coverage groups originate.
Private Capital Advisory and Restructuring
Reported in 2023 as a separate group with its own managing director head; not confirmed on the current capital markets page.
Origination and Syndication
Debt capital markets origination and syndication (bond issuer advisory) under a dedicated managing director.
Corporate Banking
Capital markets corporate banking: syndicated loans and project financing for large, mainly Quebec-based companies; the unit also stresses infrastructure financing.
Montreal
Other teams 2
Investment Banking – Quebec
Regional coverage team for Quebec public and private companies (M&A, private capital raises, IPOs and follow-ons), with sector coverage including TMT, agri-food and diversified industries.
Investment Banking – Ontario and Western Canada
Regional coverage team for Ontario and Western Canada; the unit's 2026 growth plan puts most new hires in Toronto.
Managing Director, Head of Capital Markets
Capital Markets (executive leadership)
Leads Desjardins Capital Markets from Montreal, heading the team that advises on and executes financing and strategic transactions for corporate, government and institutional clients, and is driving the unit's 2026 growth plan. Has more than 25 years of experience at independent and bank-owned dealers; a McGill law graduate called to the bar in Quebec and New York.
Managing Director, Head of Investment Banking, Quebec
Investment Banking
Leads Quebec investment banking and sits on the executive committee, working on M&A, private placements, IPOs and follow-ons in TMT, agri-food and diversified industries. Previously a consultant at Boston Consulting Group; HEC Montréal graduate and CFA charterholder.
Managing Director, Head of Fixed Income Group
Global Markets - Fixed Income
Oversees fixed income trading, institutional sales, preferred shares, financing and futures/options teams. Returned to Desjardins Capital Markets in 2010 after roles at Goldman Sachs, TD Securities and HSBC, having previously spent 10 years at Desjardins.
Managing Director, Head of Origination and Syndication
Debt Capital Markets
Heads debt origination and syndication; joined Desjardins Securities in 2008 after debt capital markets and investment banking work at HSBC. Ivey Business School graduate.
Managing Director, Head of Investment Banking, Ontario and Western Canada
Investment Banking
Leads investment banking for Ontario and Western Canada and heads real estate investment banking. Has 20+ years of real estate and capital markets experience spanning debt and equity financings, joint ventures, dispositions and M&A; Western Ontario urban development graduate.
Managing Director, Head of Institutional Equities
Institutional Equities
Heads institutional equities; joined Desjardins Capital Markets in 2019 as managing director. Previously in global equity sales and trading at Goldman Sachs in New York and then led institutional equity trading at National Bank of Canada.
Professional information only, drawn from official biographies and published reporting. BSO never lists private contact details.
Sep 2, 2025
Denis DuboisAppointment
President and Chief Executive Officer, Desjardins Group
Desjardins Group → Desjardins Group
Parent-level change: Dubois, a Desjardins executive since 2003, succeeded Guy Cormier as group CEO; he had led the wealth and insurance businesses and the earlier Guardian-related acquisitions.
Oct 6, 2026
SmartCentres Real Estate Investment Trust
Joint bookrunner · Real Estate
SmartCentres priced $300 million of new 4.795% Series AE senior unsecured debentures due 2032 and a $150 million re-opening of its 3.599% Series AC debentures due 2029.
Oct 5, 2026
PesoRama Inc.
Underwriter (syndicate member) · Consumer & Retail
PesoRama announced a C$25 million bought deal public offering of 41,667,000 common shares at $0.60 under its base shelf prospectus, with an over-allotment option of up to 6,250,050 more shares; closing expected around October 14, 2026.
Sep 21, 2026
Silver Tiger Metals Inc. (bought deal offering of units)
Underwriter · Mining / Silver-Gold Development
Silver Tiger Metals agreed a C$87 million bought deal of 87 million units at C$1.00 (about C$100 million with the over-allotment option) to fund development of its El Tigre silver-gold project in Sonora, Mexico, alongside an updated capital cost estimate.
Sep 21, 2026
Brookfield Finance Inc. US$600 million 5.650% senior notes due 2031 (guaranteed by Brookfield Corporation)
Co-manager · Asset Management
Brookfield priced US$600 million of 5-year senior notes through its finance subsidiary for general corporate purposes.
Sep 15, 2026
Dream Summit Industrial LP
Agent · Real Estate
Dream Summit Industrial LP priced a C$300 million private placement of 4.432% Series J senior unsecured debentures due March 2030, to repay debt and fund acquisitions.
Sep 14, 2026
Alaris Equity Partners Income Trust (bought deal offering of trust units)
Syndicate member (underwriter) · Financial Services / Private Capital
Alaris announced a C$100 million bought deal of trust units at C$22.40 alongside a US$95 million investment in new partner Nexus; with the over-allotment option exercised in full the offering closed at about C$115 million, with proceeds used to repay credit facility debt.
Sep 14, 2026
Primaris Real Estate Investment Trust (bought deal offering of trust units)
Joint bookrunner · Real Estate / Retail REIT
Primaris REIT sold Series A trust units at C$20.20 in a C$200 million bought deal to fund future shopping-centre acquisitions; with the over-allotment option exercised in full, 11.4 million units were issued for about C$230 million.
Sep 9, 2026
CGI Inc.
Lead agent · Technology
CGI priced a C$500 million private placement of senior unsecured notes in two C$250 million series (3.25-year and 4.75-year) to repay debt and for general corporate purposes.
Sep 9, 2026
Fortis Inc. US$1 billion fixed-to-fixed rate junior subordinated notes due 2057
Underwriter (co-manager) · Utilities
Fortis priced two US$500 million tranches of hybrid junior subordinated notes (6.625% and 6.875%, both due 2057) to repay maturing debt and for general corporate purposes.
Sep 8, 2026
Fairstone Bank of Canada
Co-manager · Financial Services
Fairstone Bank closed a $500 million offering of 4.310% three-year senior unsecured deposit notes, upsized from a $400 million minimum after about $1.7 billion of orders.
Jan 5, 2026
Minto Apartment Real Estate Investment Trust
Independent valuator and financial advisor to the Special Committee (Seller side) · Real Estate (multi-family REIT)
Buyer Crestpoint Real Estate Investments and Minto Group
Going-private transaction at C$18.00 per unit (about C$2.3 billion enterprise value). Desjardins prepared the formal valuation, pegging fair market value at C$17-C$19 per unit.
Dec 23, 2025
GDI Integrated Facility Services Inc.
Financial advisor to the company · Business Services (Facility Services)
Buyer Birch Hill Equity Partners and Gestion Claude Bigras
Birch Hill and Claude Bigras agreed to take GDI private at $36.60 per share in cash.
Dec 2025
Premium Brands Holdings Corporation
Underwriter (syndicate member) · Food Products
Premium Brands completed $600 million of public subscription receipt and convertible debenture offerings plus a concurrent private placement; the original launch date is not given in the cited release.
Oct 8, 2025
Rockpoint Gas Storage Inc.
Underwriter (syndicate member) · Energy Infrastructure (Gas Storage)
Rockpoint priced an upsized IPO of 32 million Class A shares at C$22.00 for gross proceeds of about C$704 million (date is the pricing announcement).
Aug 28, 2025
Guardian Capital Group Limited
Financial advisor to Buyer · Asset Management
Buyer Desjardins Group
All-cash take-private at C$68.00 per share, combining Guardian with Desjardins Global Asset Management into a platform of roughly C$280 billion in assets under management and advisement.
Aug 11, 2025
Fairfax Financial Holdings Limited
Dealer (syndicate member) · Insurance
Fairfax launched a C$700 million offering of senior notes.
Jul 24, 2025
GO Residential Real Estate Investment Trust
Underwriter (syndicate member) · Real Estate (Multifamily REIT)
GO Residential REIT filed its final prospectus and completed a US$410 million IPO of trust units at US$15.00 (date is the final prospectus announcement).
Jun 25, 2025
Champion Iron Canada Inc.
Joint bookrunner · Mining (iron ore)
Senior unsecured notes due 2032, launched at US$450 million; Bloomberg reports the final offering at US$500 million with Desjardins as a joint bookrunner.
Jun 16, 2025
Lime Ridge Mall (Hamilton, Ontario)
Co-lead, concurrent bought-deal secondary offering of REIT units · Real Estate - Retail
Buyer Primaris Real Estate Investment Trust · Seller Entity managed by Cadillac Fairview
Primaris agreed to buy Lime Ridge Mall for $416.0 million in cash and units, with a concurrent bought-deal secondary offering of units by an affiliate of the vendor.
Mar 24, 2025
Silver Tiger Metals Inc.
Co-lead underwriter and joint bookrunner · Mining - Silver
Silver Tiger agreed to a bought-deal financing of about C$15 million (C$17.25 million with the over-allotment option).
Oct 25, 2024
Whitecap Resources Inc.
Agent · Oil & Gas (E&P)
Whitecap priced an inaugural C$400 million offering of 4.382% investment-grade senior unsecured notes due 2029.
Jul 11, 2024
Héroux-Devtek Inc.
Independent financial advisor to the special committee; formal valuation and fairness opinion · Aerospace & Defence
Buyer Platinum Equity
Platinum Equity agreed to take Héroux-Devtek private for C$32.50 per share in cash, an enterprise value of about C$1.35 billion, with senior management rolling over part of their shares.
Apr 7, 2024
Karora Resources Inc.
Co-advisor to Karora; fairness opinion to the special committee · Mining (Gold)
Buyer Westgold Resources Limited
ASX-listed Westgold agreed to acquire Karora by plan of arrangement for Westgold shares, cash and SpinCo shares (about A$6.60 per Karora share), leaving Karora holders with roughly 49.9% of the enlarged company.
Mar 11, 2024
mdf commerce inc.
Independent fairness opinion to the board · Software
Buyer KKR
KKR agreed to acquire mdf commerce for C$5.80 per share in cash, about C$255 million of equity value and a roughly 58% premium.
Feb 27, 2024
First Capital Real Estate Investment Trust
Co-lead agent · Real Estate (Retail)
First Capital agreed to issue C$300 million of 5.572% Series B senior unsecured debentures due 2031.
The take-private closed, merging Guardian with Desjardins Global Asset Management under Guardian CEO George Mavroudis.
Head of capital markets François Carrier outlines plans to double revenue and grow headcount by about half, mainly in Toronto, with emphasis on mid-market advisory and a new equity derivatives capability.
Desjardins acts as independent valuator and financial advisor to the special committee on the C$2.3 billion deal.
New group CEO takes office alongside an expanded 12-member management committee.
Desjardins agreed to buy Guardian for about C$1.67 billion, with Desjardins Capital Markets as financial advisor.
Denis Dubois named to succeed Guy Cormier as president and CEO of Desjardins Group effective September 2025.
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Silver Tiger Metals Inc. (CNW) · Oct 8, 2026 · newswire.ca
PesoRama Inc. via Newsfile · Oct 7, 2026 · newsfilecorp.com
SmartCentres Real Estate Investment Trust · Oct 6, 2026 · smartcentres.com
PesoRama Inc. via GlobeNewswire · Oct 5, 2026 · globenewswire.com
Desjardins Group · Sep 25, 2026 · desjardins.wd10.myworkdayjobs.com
Desjardins Group · Sep 21, 2026 · desjardins.wd10.myworkdayjobs.com
Silver Tiger Metals Inc. (CNW) · Sep 21, 2026 · newswire.ca
Brookfield Corporation via SEC (Form 6-K, Exhibit 99.1) · Sep 21, 2026 · sec.gov
Brookfield Finance Inc. via SEC (Free Writing Prospectus) · Sep 21, 2026 · sec.gov
Dream Summit Industrial LP (CNW) · Sep 15, 2026 · newswire.ca
Alaris Equity Partners Income Trust (GlobeNewswire) (search snippet) · Sep 14, 2026 · globenewswire.com
Primaris Real Estate Investment Trust (GlobeNewswire) (search snippet) · Sep 14, 2026 · globenewswire.com
CGI Inc. (CNW) · Sep 9, 2026 · newswire.ca
Fortis Inc. (news releases) · Sep 9, 2026 · fortisinc.com
Fairstone Bank of Canada (CNW) · Sep 8, 2026 · newswire.ca
Desjardins Group · Mar 23, 2026 · desjardins.com
Minto Apartment REIT · Jan 5, 2026 · mintoapartmentreit.com
GDI Integrated Facility Services Inc. via CNW · Dec 23, 2025 · newswire.ca
Premium Brands Holdings Corporation via CNW · Dec 17, 2025 · newswire.ca
Rockpoint Gas Storage (via Cision/Newswire) · Oct 8, 2025 · newswire.ca
Desjardins Group · Aug 28, 2025 · desjardins.com
Desjardins Group · Aug 25, 2025 · desjardins.com
Fairfax Financial Holdings Limited (SEC Form 6-K, Exhibit 99.1) · Aug 11, 2025 · sec.gov
GO Residential Real Estate Investment Trust via CNW · Jul 31, 2025 · newswire.ca
GO Residential Real Estate Investment Trust via CNW · Jul 24, 2025 · newswire.ca
Champion Iron Limited · Jun 25, 2025 · newsroom.championiron.com
Primaris REIT (CNW) · Jun 16, 2025 · newswire.ca
Desjardins Group (via Yahoo Finance) · Jun 2, 2025 · finance.yahoo.com
Silver Tiger Metals Inc. via CNW · Mar 24, 2025 · newswire.ca
Whitecap Resources Inc. via CNW · Oct 25, 2024 · newswire.ca
Héroux-Devtek Inc. via CNW · Jul 11, 2024 · newswire.ca
Karora Resources Inc. via CNW · Apr 7, 2024 · newswire.ca
mdf commerce inc. via GlobeNewswire · Mar 11, 2024 · globenewswire.com
First Capital REIT via CNW · Feb 27, 2024 · newswire.ca
Desjardins Group · Date unavailable · desjardins.com
Desjardins Group · Date unavailable · desjardins.com
Desjardins Group · Date unavailable · desjardins.com
Alaris Equity Partners Income Trust via BNN Bloomberg (press release, GlobeNewswire) · Sep 28, 2026 · bnnbloomberg.ca
Primaris Real Estate Investment Trust via Morningstar (Business Wire release) · Sep 22, 2026 · morningstar.com
Bloomberg (via Insurance Journal) · Feb 26, 2026 · insurancejournal.com
Global Business Reports · 2023 · projects.gbreports.com
Bay Street Oracle · Oct 8, 2026 · intelligence.baystreetoracle.ca
Showing sources for the free preview. 30 further sources support the locked intelligence on this page.
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Summer Analyst · Canada
The independents recruit on their own campus cycles rather than a common one, and the spread is wide: some post in the autumn for the summer after next, while others close as late as the end of January. Postings often sit on school career boards rather than a public careers page, so check both. BSO has not confirmed a timetable for Desjardins Capital Markets on an official page: this records that the intake exists and what the category's cycle looks like, not a published date. Confirm with the firm before you plan around it.
Co-op / Off-cycle intern · Canada
Fall and winter terms are a real route in at this size — the classes are smaller than the summer one and the competition is thinner, and a good off-cycle term usually converts. BSO has not confirmed a timetable for Desjardins Capital Markets on an official page: this records that the intake exists and what the category's cycle looks like, not a published date. Confirm with the firm before you plan around it.
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Global bulge brackets and elite boutiques
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