TORONTO, June 3, 2020 /CNW/ - GMP Capital Inc. (GMP or the Company) (TSX: GMP) today announced that Gene McBurney and Fiona Macdonald are retiring from the Company's Board of Directors (the Board). Following today's announcement, GMP's Board is comprised of five members. The Board is currently evaluating alternatives with respect to appointing new independent directors.
Mr. McBurney was a founding member of GMP Securities L.P. in 1995 and was instrumental to the Company's early success in the entrepreneurial segments of the Canadian capital markets. Mr. McBurney is widely recognized as a top performing investment banker. Following the sale of the capital markets business last year, Mr. McBurney is leaving to pursue other opportunities in the capital markets sector.
Ms. Macdonald was appointed to the Board in 2013 bringing more than 25 years of experience in the area of executive compensation and human resource strategies. During her tenure on the Board, Ms. Macdonald was Chair of our Management Resources Compensation Committee and served on our Audit, Governance and Special Committees. After seven years on the Board, she is leaving after devoting significant time helping the company successfully transition to its next phase of growth.
"On behalf of the Board, we thank Gene and Fiona for their leadership, strategic guidance and informed insights and we wish them both all the very best in their future endeavours," said Don Wright, Chair of the Board.
ABOUT GMP CAPITAL INC.
GMP currently operates through two business segments: Operations Clearing and Wealth Management; and a Corporate segment. Operations Clearing, through RF Securities Clearing LP (formerly GMP Securities L.P.), provides carrying broker services to Richardson GMP and other third parties, including trade execution, clearing, settlement, custody, and certain other middle- and back-office services, and other expenses associated with providing such services. Wealth Management consists of GMP's non-controlling ownership interest in Richardson GMP. Richardson GMP, one of Canada's largest independent wealth management firms, is focused on providing exclusive and comprehensive wealth management and investment services delivered by an experienced team of investment professionals. GMP is listed on the Toronto Stock Exchange under the symbol "GMP". For further information, please visit our corporate website at gmpcapital.com.
SOURCE GMP Capital Inc.
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GMP Capital Inc., Rocco Colella, Managing Director, Investor Relations, 145 King Street West, Suite 200, Toronto, Ontario M5H 1J8, Tel: (416) 941-0894; Fax: (416) 943-6175, rcolella@gmpcapital.com or investorrelations@gmpcapital.comCopyright CNW Group 2020