Canaccord Financial Inc. (
TSX: T.CF,
Stock Forum) said Wednesday that Tim Hoare will be stepping down from his position as Chairman of Canaccord Genuity Ltd. and assuming a role on Canaccord Financial’s global advisory board.
“Having been with Canaccord since the early 1090s, and having been Chief Executive of the European business for many years, I have decided that the time has come to move on.
Canaccord has been a good home and I am extremely proud to have been able to have played a role in the considerable success it has enjoyed in the resource sector over this period.”
Canaccord financial President and CEO Paul Reynolds paid
tribute to Hoare in a press release, saying he was instrumental in helping Canaccord gain entry to the U.K.market as well as growing the business there.
On Wednesday, Canaccord Financial shares eased 0.32% to $6.20, leaving the investment firm with a market cap of $641.9 million, based on 103.5 million shares outstanding. The 52-week range is $7.93 and $4.03.