The Globe and Mail reports in its Thursday, April 30, edition that Canaccord Genuity Group spent the past few years focused on diversifying its business. The Globe's Tim Kiladze writes that progress has been slow. Resources still accounted for 47 per cent of revenue over the past three fiscal years. The dealer, however, now earns sizable fees from sectors such as health care and life sciences, as well as technology. Canaccord also acquired Collins Stewart Wealth Management, a wealth manager in Britain, for $400-million in 2011. Canaccord now has $20-billion worth of wealth assets under administration in Britain and Europe. Still, Mr. Kiladze says the strategy has not protected Canaccord from continuing woes. The stock has almost halved from its peak last summer. The Globe says concerns now centre on succession planning following the death of former boss Paul Reynolds earlier this month. David Kassie is currently leading the firm. The Globe says there is speculation of a reverse takeover. Mr. Kassie has only been named as an interim leader. The speculated front-runners to take over include North American capital markets head Dan Daviau and European arm boss Alexis de Rosnay.