32 years of investment banking experience encompassing all aspects of the capital markets and strategic advisory

Tim Kitchen

About Tim

Tim has over 32 years of investment banking experience encompassing all aspects of the capital markets and strategic advisory. This experience includes: strategic and corporate M&A (including unsolicited transactions), equity issuance (”bought” deals and IPOs) and debt new issues (high yield and term loans).  Tim has a reputation of integrity and for being a trusted strategic advisor.

Tim also has significant Board/corporate governance experience. He has provided strategic advice to numerous Boards. He has been a Board member of Barclays Capital Canada Inc. for the last 14 years. Tim also served as the Chair of the Foundation Board for the Banff Centre for Arts and Creativity where he also was a member of the search committee that conducted a global search for the new CEO.

Education

1990, MBA (with Distinction), Schulich School of Business

1986, B.Sc. (Honours), Chemical Engineering, Queen’s University

2017, ICD.D Designation, Institute of Corporate Directors

Work Experience

2009 – Present, Barclays – MD and Head, Canadian Investment Banking

2007 – 2008, Lehman Brothers – Managing Director

1990 – 2006, CIBC Capital Markets, Associate to Managing Director

1986 – 1988, Shell – Reservoir Engineer

Areas of Expertise

Strategic M&A advice (including cross border and complex transactions)

Capital markets expertise (equity and debt new issues)

Energy and clean technology/renewable sector knowledge

Corporate Governance

Read more about Tim's Experience

After graduating with a degree in Chemical Engineering from Queen’s University in 1986, Tim started his professional career at Shell Canada as a reservoir engineer. Here he honed his technical skills and gained an enhanced understanding of the energy industry.

Tim decided to shift his career from primarily a technical role to a more business focus and left Shell in 1988 to pursue his MBA at the Schulich School of Business. After graduating from his MBA in 1990, Tim commenced his investment banking career at CIBC in Toronto as an Associate where he developed his corporate finance skills supporting many industry groups.  Given Tim’s oil and gas experience, he was transferred to CIBC’s Calgary office and quickly rose through the ranks to become a Managing Director. In Calgary, Tim focused on energy coverage spanning upstream, downstream and energy infrastructure advisory.  Tim also played a leadership role in CIBC’s market leading income trust/royalty trust business.

In late 2006, the Government of Canada enacted legislation effectively ending the era of royalty trusts/income trusts and Tim decided to shift his investment banking focus. In January of 2007, Tim joined Lehman Brothers where he established Lehman Brothers’ Calgary office, leading the development of the firm’s capital markets presence in the region. Here he successfully leveraged Lehman’s leading Natural Resources platform to build out a significant market presence prior to Lehman’s Canadian business being acquired by Barclays in late 2008 during the financial crisis.

Tim has been at Barclays since late 2008 and since that time has headed Barclays’ Canadian Investment Banking business with overarching administrative responsibility for investment banking personnel across the Toronto and Calgary offices. He has been instrumental in materially growing the investment banking business following the acquisition of Lehman Brothers’ Canadian operations (>200% increase in banking revenue from 2010 to 2021).  Tim has had significant involvement in the hiring of seven Managing Directors to grow leadership talent pool.  Barclays is now a top international bank in Canada (#1 fee share of non-Canadian banks H1 2023).

Aside from Tim’s administrative duties, he also has key coverage responsibility which spans the wider Canadian Energy industry (upstream, midstream, downstream, infrastructure and retail). Tim has extensive experience advising companies in international markets (Japan, China, US, UK, Europe), cross-border deals and complex transactions. Tim also provides senior leadership to Barclays’ new and growing sustainable banking/clean technology business.

Transaction
Experience

Strategic Mergers & Acquisitions

Tim has extensive experience providing strategic M&A advice to companies and their Board of Directors. Notable transactions include:

  • Advised Brookfield Infrastructure on the $8.6 billion acquisition of Inter Pipeline
  • Advised Tervita on the merger with Secure Energy Services ($2.3 billion combined value)
  • Advised Cenovus Energy on the $975 million sale of its Pelican Lake assets
  • Advised Encana on the $7.1 billion acquisition of Athlon Energy
  • Advised Petrochina on a $2.18 billion joint venture with Encana
  • Advised Mitsubishi on a $2.9 billion joint venture with Encana
  • Advised Sinopec on the $3.0 billion acquisition of Daylight
  • Advised Talisman Energy on the US$1.325 billion joint acquisition of Eagle Ford properties from Enduring Resources
  • Advised Encana on the separation into an integrated oil sands company and a high- growth natural gas producer (combined TEV of $55 billion)
  • Advised Athabasca Oil Sands Corp. on the $1.9 billion joint venture with PetroChina
  • Advised Royal Dutch Shell on the $7.7 bn acquisition of the minority stake in Shell Canada
  • Advised Shell Canada on the $2.4 billion acquisition of BlackRock Ventures
  • Advised AEC on the merger with PanCanadian that formed Encana Corp. (market cap. of $25 billion)

Financing Experience

Tim also has extensive financing experience.  Notable transactions include: 

  • Bookrunner for a US$3.0 billion multi-tranche bond offering for Canadian Natural
  • Coordinater/bookrunner roles for MEG Energy’s comprehensive refinancing plan involving a US$1.2 billion term loan, a US$750 million notes offering and a $518 million equity offering
  • Bookrunner role for a US$450 million high yield offering for Paramount Resources
  • Bookrunner role for a US$350 million high yield offering for Teine Energy
  • Bookrunner role for a US$800 million high yield offering for Baytex Energy
  • Bookrunner roles for a $400 million equity offering and the $700 million IPO for MEG Energy
  • Co-agent on a $500 million equity private placement for OSUM Oil Sands
  • Bookrunner roles for US$800 million and US$700 million high yield offerings for MEG Energy
  • Bookrunner roles for US$3.5 billion  and US$1.3 billion senior notes offerings for Cenovus Energy
  • Bookrunner role for a US$500 million senior notes offering for Husky Energy
  • Bookrunner role for a US$1.0 billion senior notes offering for Encana
  • Bookrunner role for a US$600 million senior notes offering for Talisman Energy
  • Bookrunner role for the $3.2 billion secondary offering of Petro-Canada shares by the Government of Canada