The Globe and Mail reports in its Friday, June 3, edition that Canaccord Genuity Group is asking its employees to cough up cash for equity in a move that will inch the firm a little closer to the old Bay Street partnership model. The Globe's Niall McGee writes that chief executive officer Dan Daviau says the move is designed to align employees with shareholders, who are concerned about the firm's profitability. He says, "When you have your employees going into their pocket and writing a cheque to subscribe for shares of our company, that changes people's attitudes." As a sweetener to buy into the stock issue, employees will be granted half a warrant to buy additional shares. Mr. Daviau says there will be restrictions put in place. Employees will be unable to sell their shares, or exercise the warrant, for a number of years. The stock issue, which is due to be completed via a private placement at market prices over the next few weeks, will dilute common shareholders by about seven million shares. Canaccord should raise about $30-million in capital from the offering, which the company intends to use mainly to finance future stock-based compensation plans for employees.