Deutsche Bank Unit Hires Global Mining Finance Chief

Article excerpt

Deutsche Morgan Grenfell is beefing up its metals and mining finance operation in North America.

The company, a unit of Deutsche Bank, has hired Tye W. Burt as managing director and global head of metals and mining in Toronto. Mr. Burt is also overseeing the company's investment banking division there.

Mr. Burt, 40, joined the German giant from Nesbitt Burns Inc., Toronto, a division of Bank of Montreal, where he was managing director and global head of mining.

Also joining DMG from Nesbitt Burns was Paul Rollinson, an investment banker and mining engineer. He was named a director.

Both executives started work this week, reporting to Carter McClelland, global co-head of investment banking, and Douglas Byers, president and CEO of DMG Canada.

"This group will allow us to bring global resources to bear in a market where many development, exploration, and production companies have significant global interests," said Mr. Byers. "Tye's hiring will enable us to crystallize our North American effort s in research underwriting and distribution of companies for this sector."

Mr. Burt specialized in M&A and finance during his 11 years at Nesbitt Burns. He advised Diamond Fields Resources in its $3.1 billion acquisition by Inco and advised Arequipa Resources in its $800 million acquisition by Barrick Gold.

Coordinating metals and mining groups worldwide into "one powerful unit, sharing information" will be first on his agenda, said Mr. …