David Kassie to continue as Executive Chairman
Alexis de Rosnay appointed Senior Executive Vice President of Canaccord Genuity Group Inc. and Global Head of Investment Banking
TORONTO, Sept. 11, 2015 /CNW/ - The Board of Directors of Canaccord Genuity Group Inc. (the "Company") announces today it has elected Daniel ("Dan") Daviau as the firm's President and Chief Executive Officer, effective October 1, 2015. The appointment follows a thorough process of succession planning and evaluation. Mr. Daviau succeeds David Kassie, who assumed the role of Chairman and Chief Executive Officer in April, 2015, following the death of past President and CEO, Paul Reynolds.
In conjunction with this appointment, Mr. Daviau will join Canaccord Genuity's Board of Directors, an appointment which expands the Board to ten directors, eight of whom are independent.
Mr. Kassie will continue to serve as Executive Chairman, with a particular focus on client facing activities and strategic initiatives for the firm.
"Dan Daviau has a proven track record as a highly successful investment banker, but more importantly, as a capable and strategic business leader," said Mr. Kassie. "He has a deep understanding of Canaccord Genuity Group Inc.'s strategy and culture and I am confident he possesses the vision and expertise to expand our global market share and deliver increasing value for our employees, clients and shareholders."
Mr. Kassie continued, "I would like to thank the Board of Directors for their commitment to this very thorough succession planning process."
"I am honoured to lead this extraordinary organization as we enter the next stage of our evolution as a leading, independent global investment bank," said Mr. Daviau. "It is my intent to continue our focus on enhancing global coordination and driving further operating efficiencies across our business and importantly, ensuring Canaccord Genuity is an exceptional place to work."
Moreover, Alexis de Rosnay has accepted the additional roles of Senior Executive Vice President of Canaccord Genuity Group Inc. and Global Head of Investment Banking, where he will become increasingly involved in North American and global investment banking activities. Mr. de Rosnay will remain in London and will continue to serve as Chief Executive Officer of Canaccord Genuity Limited (UK & Europe), which includes overall responsibility for Canaccord Genuity Wealth Management operations in the region.
"Alexis has achieved a strong presence in the UK & Europe and has been instrumental in building relationships and delivering successful outcomes for key institutional and corporate clients across our global platform," said Mr. Daviau. "I am pleased that he will continue to serve as a close partner and key member of the executive leadership team."
As part of the total compensation arrangement with regards to their new roles, Dan Daviau will receive a grant of 1.5 million restricted share units (RSUs) of Canaccord Genuity stock and Alexis de Rosnay will receive a similar grant of 425,000 RSUs. This stock will vest in equal increments over five years and the value of each year's vesting will be taken into consideration as part of their total discretionary compensation for that year.
BACKGROUND ON DAN DAVIAU
Dan Daviau served as Chief Executive Officer of Canaccord Genuity's North American Capital Markets business since February, 2015. From 2012 to 2015, Mr. Daviau was President of the firm's US Capital Markets business, where he helped to structure the firm's investment banking, research, sales and trading operations in the region and improve cross-border capabilities. From 2010 to 2012, Mr. Daviau was Head of Investment Banking for Canaccord Genuity and was actively engaged in improving the firm's sector diversification capabilities and contributing to its global growth strategy. Prior to the Canaccord/Genuity merger that was announced in 2010, Mr. Daviau was a Principal and Founder of Genuity Capital Markets, where he held a variety of senior roles since 2005.
Prior to 2005, Mr. Daviau was Co-Head of Investment Banking at CIBC World Markets, a firm he joined in 1991. While at CIBC World Markets, Mr. Daviau also served as the Head of the Media and Telecommunications Group since 2000 and Head of the Technology Investment Banking Group in Canada since 1997.
Having started his career as a securities lawyer with Goodman & Co., Mr. Daviau has extensive experience in a broad range of financing transactions and M&A assignments. His equity offering experience includes public and private financings for a number of leading global technology, online gaming, media and telecom companies. In the M&A space, Mr. Daviau has advised in excess of US$50 billion of transactions.
Mr. Daviau is based in Toronto, Canada. He holds an MBA from York University, an LL.B. from Osgoode Hall/York University and a B.A. (Math and Statistics) from the University of Western Ontario.
ABOUT CANACCORD GENUITY GROUP INC.:
Through its principal subsidiaries, Canaccord Genuity Group Inc. (the "Company") is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has offices in 10 countries worldwide, including Wealth Management offices located in Canada, Australia, the UK, Guernsey, Jersey, and the Isle of Man. Canaccord Genuity, the international capital markets division, operates in Canada, the US, the UK, France, Ireland, Hong Kong, China, Singapore, Australia and Barbados. To us there are no foreign markets.TM
Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX and the symbol CF. on the London Stock Exchange.
SOURCE Canaccord Genuity Group Inc.
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Image with caption: "Canaccord Genuity Group Inc. (CNW Group/Canaccord Genuity Group Inc.)". Image available at: http://photos.newswire.ca/images/download/20150911_C2279_PHOTO_EN_494939.jpg
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