12:08:43 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canaccord Genuity Group Inc
Symbol CF
Shares Issued 111,921,430
Close 2016-10-07 C$ 4.57
Market Cap C$ 511,480,935
Recent Sedar Documents

Globe says Canaccord not planning significant job cuts

2016-10-11 06:57 ET - In the News

The Globe and Mail reports in its Saturday, Oct. 8, edition that Canaccord Genuity Group ($4.57) says it is not planning significant job reductions in the United States. The Globe's Niall McGee writes that in an e-mailed statement to The Globe late on Thursday, a company representative wrote "there are no planned head count reductions in the U.S. outside of the normal course of business." Last week, The Globe reported that Stephen Rusch, managing director of investment banking, left the firm. An unnamed source close to the company had said additional departures are expected at the New York office. Earlier last week, Canaccord declined requests for comment on whether additional staffing cuts were planned for its American operations. Canaccord had 303 employees in the U.S. as of the end of September. In its capital markets division, the U.S. is now Canaccord Genuity's biggest market, accounting for 38 per cent of revenue. The Globe reported on Feb. 11 that CIBC World Markets analyst Paul Holden had cut Canaccord Genuity to "sector performer" from "sector outperformer." In the item, Mr. Holden cut his share target by $4.50 to $5.50. The shares could then be had for $4.02.

© 2024 Canjex Publishing Ltd. All rights reserved.