Brian Ector, Baytex’s vice president of IR, offers some roadshow tips
After completing 15 years as a sell-side research analyst, Brian Ector joined Baytex Energy as director of investor relations in 2009, before being appointed vice president of IR in 2011.
Well versed in interacting with IROs and having already forged close working relationships with many of Baytex’s shareholders, Ector’s transition from the sell side to IR was a smooth one, which helped him pick up the award for best IRO at a mid-cap company at the IR Magazine Awards – Canada 2013 in February.
Baytex has several energy conferences and marketing trips in Canada, the US and Europe planned for 2013, so IR Magazine caught up with Ector to find out how he judges the success of his roadshows.
‘You need to be careful in how you gauge the success of a marketing trip. Every single investor meeting we do is important to us, whether with a large shareholder, small shareholder or a potential new investor,’ says Ector. ‘If an investor has expressed an interest in meeting with us, we will always try to accommodate that.
‘A successful road trip means we have used our time effectively and met with shareholders – and hopefully with some investors that might become shareholders further down the road. If, in every single meeting, people walk away understanding our story better, if we have addressed all of their questions and/or concerns in an open and honest manner and communicated effectively, then I would view our marketing as a success.’
So what tips does Ector have to ensure a successful trip? What defines a good or bad roadshow? ‘Know who your shareholders are, and appreciate how important they are to you,’ he says. ‘When planning a road trip, make sure whoever is co-ordinating it on your behalf knows the key shareholders you would like to meet with.
‘At the same time, be flexible: you want to balance the need to meet with your existing shareholders with a desire to target new investors. If the organizer of your trip strongly suggests meeting with a potential new investor, you would be wise to listen to that advice.
‘Finally, know the market and the cities you want to target. Be in charge of the event: communicate effectively with the organizer of the trip, and ensure the schedule is to your liking. And if it isn’t, make sure the organizer understands that. This is your trip – make sure you get the most out of it.’
