Canaccord Genuity Group has named Daniel Daviau as its new president and chief executive officer, replacing David Kassie.
Also, Daviau will become Canaccord Genuity’s board of directors, taking the total members in the Board to ten directors, eight of whom are independent. His appointment is effective 1 October 2015.
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Daviau’s hire follows a thorough process of succession planning and evaluation. Kassie has assumed the role of chairman and chief executive officer in April 2015 after the death of past president and CEO, Paul Reynolds.
The company said that Kassie will continue to remain as executive chairman, with a particular focus on client facing activities and strategic initiatives for the firm.
Additionally, Alexis de Rosnay has been appointed as senior executive vice president of Canaccord Genuity Group and global head of investment banking, where he will be involved in North American and global investment banking activities.
Furthermore, de Rosnay will be based in London and will continue to serve as CEO of Canaccord Genuity Limited (UK & Europe), which includes overall responsibility for CanaccordGenuity Wealth Management operations in the region.
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By GlobalDataDan Daviau was most recently CEO of Canaccord Genuity’s North American Capital Markets business. Prior to this, he worked as president of the firm’s US Capital Markets business, head of investment banking for Canaccord Genuity and as a principal and founder of Genuity Capital Markets, which was merged with Canaccord in 2010.
Daviau joined Genuity Capital Markets from CIBC World Markets, where he served as the head of the media and telecommunications group and head of the technology investment banking group in Canada. He began his career as a securities lawyer with Goodman & Co.
Kassie said: "He has a deep understanding of Canaccord Genuity Group Inc.’s strategy and culture and I am confident he possesses the vision and expertise to expand our global market share and deliver increasing value for our employees, clients and shareholders."
Daviau added: "It is my intent to continue our focus on enhancing global coordination and driving further operating efficiencies across our business and importantly, ensuring Canaccord Genuity is an exceptional place to work."
