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NORTHERN FINANCIAL ANNOUNCES HIRING BY NORTHERN SECURITIES OF NEW MANAGING DIRECTOR OF INSTITUTIONAL SALES

^{Published on 2011-01-18 04:50:26 - Market Wire}
 

(TSX:NFC)

TORONTO, Jan. 18 /CNW/ - Northern Financial Corporation (TSX: NFC) ("Northern" or the "Company") announced that Robert Bruggeman has re-joined its wholly-owned subsidiary, Northern Securities Inc. ("Northern Securities") in the position of Managing Director, Institutional Sales. Mr. Bruggeman was a key member of Northern Securities from 2000 to 2005, joining Northern in 2000 as a technology analyst. While at Northern Securities he transitioned to Investment Banking, working in mergers and acquisitions before becoming Head of Research.  

After being hired by TD Securities as a desk analyst on the proprietary trading desk, Mr. Bruggeman spent 5 years at TD Securities generating investment and trading ideas based on company news, fundamental valuation, macroeconomics, sell-side research and technical analysis.   He covered all sectors of the Canadian equity market and market capitalization ranging from micro cap to large cap.   His analysis ranged from ad hoc analysis of breaking news to in-depth valuation work on companies.  

Mr. Bruggeman also directed a very successful multi-strategy proprietary trading account at TD Securities that generated returns exceeding 40% per year, while actively monitoring risk to preserve capital. Mr. Bruggeman left TD Securities in 2010 to join Canaccord Genuity as a proprietary trader.

Vic Alboini, Chairman and Chief Executive Officer, stated "I am very pleased that Rob has re-joined Northern Securities.  Rob is a very good team player and therefore fits the culture of our Firm.   He is dedicated, organized, very smart and hard-working.   We look forward to Rob bringing his commitment and enthusiasm to Northern Securities."  

Mr. Bruggeman completed the Chartered Financial Analyst Program in 2003, obtained his MBA from York University in 2000, and his Bachelor of Engineering and Management from McMaster University in 1994.

About Northern Financial Corporation

Northern Financial Corporation wholly owns Northern Securities Inc., a full service investment dealer that provides financial advisory services to retail and institutional clients and investment banking services to small capitalization companies.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this news release.