The Globe and Mail reports in its Tuesday edition that Canaccord Genuity Group
has lost its head of U.S. investment
banking, the second big
departure at Canada's largest
independent brokerage in the
past week.
The Globe's Niall McGee writes that Canaccord says Dan Coyne left the firm for "personal
reasons."
Mr. Coyne joined Canaccord
after the Canadian dealer
acquired his previous employer,
Boston-based Adams Harkness Financial Group,
in 2006. Mr. Coyne had been with
Adams Harkness since 1998. He
was promoted to head of United States
banking last year.
Unnamed sources say Mr. Coyne was
consistently among the firm's biggest
producers in the U.S.
Last week, veteran London-based
banker Piers Coombs also
departed Canaccord. Mr. Coombs,
who was head of Canaccord's European
equity capital markets
business, jumped ship to Irish
brokerage Goodbody Stockbrokers.
Mr.
Coombs had been with Canaccord
since 2007. Previously, he worked
for Morgan Stanley.
Back in its home market, a
string of senior Canadian bankers
have left Canaccord since the
summer. Sanjiv Samant and Justin
Bosa departed in June for
bank-owned dealers. In August,
Pierre Fleurent left
for a position outside of banking.
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