The Globe and Mail reports in its Wednesday, Feb. 10, edition that unnamed sources say Canaccord Genuity Group
has parted ways with three
senior staffers, Jens Mayer, Andrew Jappy and
Peter Virvilis -- all long-serving
Canaccord employees.
The Globe's Niall McGee writes that Canaccord acquired Genuity
Capital Markets in 2010, but over
time a reverse takeover of sorts
has taken place whereby Genuity
staffers have taken on increasingly
senior roles and many Canaccord
employees have left.
Mr. Mayer was global co-head
of investment banking and had
been with Canaccord for 16
years.
Mr. Jappy had been responsible
for information technology. He
joined Canaccord in the
mid-1990s.
Mr. Virvilis was head of operations
and a 29-year veteran. He
oversaw the independent brokerage's
back office operations.
Last month, Scott Davidson,
global head of corporate development
and strategy who had
been with Canaccord since 2002,
left the company.
The balance of power swung
decisively away from the old
guard and toward Genuity following
the sudden death of chief
executive officer Paul Reynolds
last year. In September,
Dan Daviau --
formerly of Genuity -- was
named permanent CEO.
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