TORONTO, April 12, 2012 /CNW/ - GMP Capital Inc. ("GMP") (TSX: GMP) today announced that Stanley M. Beck will be retiring from GMP's board of directors (the "Board") effective on the date of GMP's annual and special meeting of common shareholders to be held on May 4, 2012 (the "Meeting"), after serving more than eight years as Chairman. The Board intends to appoint Donald A. Wright as Chairman immediately after the Meeting, following his re-election to the Board. Mr. Wright has been an independent director of the Board since 2004.
Mr. Wright is currently President and Chief Executive Officer of The Winnington Capital Group Inc. and has over 30 years of experience in the investment industry. He has held a number of leadership positions, including President of Merrill Lynch Canada, Executive Vice-President, director and member of the executive committee of Burns Fry Ltd., Chairman and Chief Executive Officer of TD Securities Inc. and Deputy Chairman of TD Bank Financial Group.
"Don's business acumen and experience make him an excellent choice for the position as Chairman and under his leadership, I am confident that the Board will build on its legacy of strong governance," said Mr. Beck. "It has been a privilege to have served as Chairman of an exceptional franchise and to have worked with a devoted Board. I thank all employees and shareholders for their continued support and trust they place in GMP."
"On behalf of my fellow directors, I thank Stanley for his leadership, commitment and dedication to GMP as its Chairman over the last eight years," said Mr. Wright. "I am honoured by the Board's confidence and look forward to continuing to work with them and the management team as GMP enters the next exciting phase of its evolution."
This press release contains "forward-looking information" as defined under applicable Canadian securities laws. This information includes, but is not limited to, statements made with respect to management's beliefs, estimates, projections and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management's current beliefs and is based on information currently available to management.
Forward-looking information is not a guarantee of future performance and is subject to numerous risks and uncertainties. These risks include market, operational and legal and regulatory risks and other risk factors. A material assumption or factor underlying the forward-looking information contained in this press release includes, without limitation, the re-election of Donald A. Wright to the Board at GMP's Meeting. Although forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with this forward-looking information. The forward-looking information contained in this press release is made as of the date of this press release, and should not be relied upon as representing GMP's views as of any date subsequent to the date of this press release. Except as required by applicable law, management and the Board of Directors undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
ABOUT GMP CAPITAL INC.
GMP Capital Inc. ("GMP") is a leading independent diversified financial services firm headquartered in Toronto, Canada, providing a wide range of financial products and services to a client base that includes corporate clients, institutional investors and high-net-worth individuals in three integrated business segments. The Capital Markets segment provides investment banking, including advisory and underwriting services, institutional sales and trading and research through offices located in Toronto, Montreal, Calgary, New York, Miami, Dallas, London, Perth and Sydney. The Capital Markets segment conducts its business through the following operating entities: GMP Securities L.P., GMP Securities, LLC, Griffiths McBurney Corp., GMP Securities Europe LLP and GMP Securities Australia Pty Limited. Wealth Management consists of GMP's non-controlling ownership interest in Richardson GMP Limited, a full-service independent firm focused on providing exclusive and comprehensive wealth management and investment services delivered by an experienced team of investment professionals. The Alternative Investments segment consists of the investment management and alternative investment products provided by GMP Investment Management L.P. GMP is listed on the Toronto Stock Exchange under the symbol "GMP". For further information, please visit our corporate website at gmpcapital.com.
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