C.B.H.F.
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Class of 1987
A.Deane Nesbitt, the pre-eminent creative financier who moulded Nesbitt Thomson and Co. into a major securities firm.
Montreal born, Deane graduated from McGill University in 1933 with an engineering degree. He abandoned engineering and chose a statistical career in his father’s investment company, Nesbitt Thomson and Co., a firm that financed hydro electric utilities.
Following a tour of duty with the Royal Canadian Air Force, Deane returned to Nesbitt Thomson. He progressed through the company and in 1947 was made a director. Seven years later he was appointed President and Chief Executive Officer where he remained for 25 years. In the late 1950’s while serving as President of the Nesbitt Thomson subsidiary, Power Corporation, Deane successfully arranged the entangled financing of the TransCanada Pipelines Project and other complex Canadian underwritings including British Columbia Electric Co. and Winnipeg Gas Co.
His early vision saw clearly that Canada’s financial survival depended on being able to compete globally. He used his uncanny knack for bringing together those who needed capital with those who had it. From his strong personality and grueling work habits came the initiative in 1968 that took Nesbitt Thomson into the arena of mergers and international banking.
Deane’s integrity in supporting business turned Nesbitt Thomson, a company that began as an energy specialist, into a fully integrated securities firm.