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Capital Markets


Capital Markets

Capital Markets

About Desjardins Capital Markets

A financial services leader in North America

Desjardins Capital Markets is a leading North American financial services firm and a division of Desjardins Financial Group, Canada's leading cooperative financial group with more than $250 billion in assets.

Desjardins Capital Markets favours an integrated approach, offering clients in the institutional, corporate and public sectors all over the world direct access to experienced Desjardins Group professionals and a wide range of products and services.

We deliver comprehensive, value-added products and services to our corporate, cooperative, and institutional clients.

Integrated Approach - Corporate banking - Investment banking - Preferred shares - Equities - Fixed income - 

Our fully integrated approach aligns our broad research capabilities and proven sales and trading force with experienced corporate and investment banking teams, while leveraging our extensive retail network.

Alphonse Desjardins founded the first "caisse populaire" or people's bank, in Lévis Quebec on December 6, 1900, and operations began on January 23, 1901.

Hundreds of similar "caisses" started up over the ensuing decades until a provincial organization under the name Desjardins was formed in 1932. Desjardins Financial Group now has the second-largest branch network in Canada.

In the following decades, Desjardins diversified beyond its retail banking origins to offer a comprehensive range of products and services, including:

  • insurance
  • asset management
  • estate planning
  • venture capital
  • wealth management
  • advisory and M&A
  • capital markets
  • personal banking
  • small and medium enterprise financing
  • credit cards

Today, Desjardins is one of the best capitalized financial institutions in the world with more than $250 billion in assets. It is one of the world's safest financial institutions, with a Tier 1 capital ratio (15.8%) and one of the highest credit ratings in the Canadian banking industry: Moody's Aa1; Standard & Poors AA-; and Dominion Bond Rating Service (DBRS) AA.

According to Bloomberg's World's 20 Strongest Banks ranking, updated July 29, 2015, Desjardins Group is the leading cooperative financial group in Canada and ranks first among the strongest banks in North America and fifth in the world.

Desjardins's entry in this ranking comes 1 month after the publication of New York-based magazine Global Finance's World's 50 Safest Banks, which ranks Desjardins 4th among the safest financial institutions in North America.

Desjardins Capital Markets

Desjardins Capital Markets was formed to leverage the Desjardins platform and provide a fully integrated approach to institutional, corporate and public sector clients.

Our services include corporate and investment banking, equity and fixed income research, sales and trading, and fixed income.

Capital Markets


Jean-Yves Bourgeois
Managing Director
Group Head, Capital Markets
Contact by e-mail

Jean-Yves Bourgeois joined Desjardins in 2010. Prior to joining Desjardins, Mr. Bourgeois was Managing Director, Head of the Quebec Region, and member of the Executive Committee at Canaccord Adams. Jean-Yves has also served in similar roles at HSBC Securities, TD Securities and Gordon Capital. He holds an MBA from McGill University.

François Carrier
Managing Director
Head of Investment Banking
Contact by e-mail

François Carrier joined Desjardins Capital Markets in 2011, as Managing Director, Investment Banking. He had previously held a similar position with a bank-owned investment dealer. François has been active as an investment banker since 1999, when he began his career at an independent investment bank. His professional practice is varied and serves issuers of all sizes, private and public. He has advised issuers in the context of initial public offerings, new issues, private placements and M&A activities, in Canada, Europe and the United States. He is a graduate from the Faculty of Law at McGill University.

Mark Lucey
Managing Director
Head of Equities
Contact by e-mail

Mark Lucey joined Desjardins Capital Markets in 2013. Mark's substantial experience in the high tech industry positioned him to become a top ranked equity analyst at a bank-owned investment dealer. Subsequently, Mark served as the Co-Head of Canadian Research for a large independent dealer after having played a key role on their institutional equities desk. Mark's experience also includes corporate finance, advisory and equity-linked fixed income securities. Mark currently oversees Research, Institutional Equities and Retail Trade Execution for Desjardins Capital Markets. Mark is a CFA charterholder and has a B.A.Sc. from the University of Toronto.

Craig Brenner
Managing Director
Head of Institutional Sales and Trading
Contact by e-mail

Craig Brenner joined Desjardins in May 2012 following more than 15 years in the securities industry. He first began his career in the US technology sector as a research analyst for Gartner Group. Craig's initial move into institutional sales was at SoundView Technology Group followed by a leading position with start up American Technology Research.

Returning to Canada in 2005, he held senior executive positions at CIBC World Markets, Orion Securities and Macquarie Capital Markets Canada where he was made Managing Director, Head of Institutional Sales for the company's Canadian operations. Craig graduated with a BA from Wilfrid Laurier University and holds an MBA in Finance from McMaster University.

Bill Cabel
Managing Director
Head of Research
Contact by e-mail

Bill Cabel joined Desjardins Securities in 2014. Bill previously worked at Stifel Nicolaus, Jacob Securities and TD Newcrest in equity research. Subsequently, Bill was appointed Head of Research. Bill holds a BA, Honours and Life Sciences and an MSc in Neuroscience from Queen’s University and an MBA in Finance and Accounting from the Schulich School of Business.

Martin Labrecque
Managing Director
Head of Fixed Income Sales
Contact by e-mail

Martin attended McGill University where he received a Bachelor of Commerce degree, and he holds an MBA from Columbia Business School. He started his career at Goldman Sachs, working in Toronto, Montreal and New York in various sales capacities in fixed income and equities. Martin returned to Montreal in 2003 to head J.P. Morgan's fixed income business in Quebec, and he joined Desjardins Securities in 2006.

Martin Bellefeuille
Managing Director
Head of Fixed Income Trading
514 985-7542
Contact by e-mail

Martin holds a Bachelor of Commerce degree from McGill University as well as an MBA from Ecole des HEC in Montreal. Martin started his career in finance with Casgrain & Company Ltd, before joining Desjardins Securities in 2007. Martin was appointed Head Trader of the Fixed Income Group in 2011.

Ryan Godfrey
Managing Director
Debt Capital Markets
Contact by e-mail

Ryan joined Desjardins Securities in 2008 and has over 15 years of experience in managing debt capital markets transactions for Canadian and international borrowers. Previously, Ryan was with HSBC in debt capital markets and investment banking. Ryan has extensive experience in a broad range of debt capital markets transactions, including lead management roles for large government, financial, corporate, infrastructure and Maple borrowers. Ryan is a graduate of the Richard Ivey School of Business.

Our offices in Montreal, Toronto, Calgary and Vancouver serve both domestic and international clients. Our national presence allows us to efficiently deliver global solutions adapted to the specific needs of our clients, in the areas of corporate and investment banking, equity, fixed income and research.

1170 Peel Street
Suite 300
Montréal, QC
H3B 0A9

25 York Street
Suite 1000
Toronto, ON
M5J 2V5

110 9th Avenue SW Suite 410
Calgary, AB
T2P 0T1

401 West Georgia Street Suite 1060
Vancouver, BC
V6B 5A1

European Securities Network
In addition to our Canadian presence, we also provide our clients with access to international markets through our exclusive distribution agreement with European Securities Network (ESN), a consortium of 9 European investment banks with access to over 1,000 institutional investors in Europe.

For more information about ESN, please contact:

Jean-Yves Bourgeois
Managing Director
Group Head, Capital Markets
Contact by e-mail

Mark Lucey
Managing Director
Head of Equities
Contact by e-mail