Proven industry veteran brings over 25 years of experience in financial leadership, transformation, and strategic development
Ahn positioned to succeed current CFO, Don MacFayden, following planned transition in 2025
TORONTO, Oct. 9, 2024 /CNW/ - Canaccord Genuity Group Inc. (TSX: CF) (the "Company") is pleased to announce the appointment of Nadine Ahn as Deputy Chief Financial Officer, Canaccord Genuity Group Inc.
With over 25 years of banking experience and deep expertise in treasury, capital markets, corporate development, and strategy, Ms. Ahn will play a key leadership role at the Company.
Following more than three decades of exemplary service, the company's current Chief Financial Officer ("CFO"), Don MacFayden has informed the Company of his desire to transition from his role as the Company's CFO in the coming year. This appointment anticipates Ms. Ahn transitioning to the CFO role in calendar 2025 as part of the Company's succession plan.
"On behalf of the Board of Directors and our Global Operating Committee, we are pleased to welcome Nadine to our leadership team," said Dan Daviau, Chairman, President & CEO of Canaccord Genuity Group Inc. "Nadine brings a wealth of multijurisdictional financial leadership experience, making her exceptionally well-suited to support our continued long-term growth and delivery of significant shareholder value."
Ms. Ahn has a proven track record of leading high-impact financial initiatives with a focus on capital allocation and balance sheet optimization. Most recently she served as Chief Financial Officer of a major full-service Canadian bank from 2021 to 2024 and prior to that from 1999, Ms. Ahn held progressively senior finance roles in various divisions of the bank, in addition to serving on several boards of domestic and internationally regulated subsidiaries. Ms. Ahn also had a pivotal role in successfully executing a landmark domestic banking acquisition.
"I am excited to join Canaccord Genuity Group, and I look forward to bringing my experience to an organization that prioritizes innovation, entrepreneurial spirit and improving shareholder returns," said Ms. Ahn. "I look forward to working closely with the talented team to advance operational excellence and financial performance."
Ms. Ahn will initially focus on optimizing global financial operations, which will include overseeing strategic projects and identifying opportunities to strengthen the Company's financial position.
After Ms. Ahn assumes the CFO role Mr. MacFayden will continue to be active within the Company's U.S. capital markets business, Canaccord Genuity LLC, where he has been in a senior financial leadership position for a number of years.
"Don is a valued partner and has made an incredible impact to Canaccord Genuity Group and to our shareholders over the course of his multi-decade tenure with CG. We are fortunate that Don will continue to have ongoing involvement in our business, leading the financial oversight of our U.S. capital markets operation, while supporting a successful transition with Nadine," said Daviau.
The appointment follows a comprehensive due diligence process with the support of Canaccord Genuity's Board of Directors and independent advisors. To ensure operational continuity, Ms. Ahn will partner with Mr. MacFayden to ensure a smooth transition to the Group CFO role in 2025.
ABOUT CANACCORD GENUITY GROUP INC.
Through its principal subsidiaries, Canaccord Genuity Group Inc. (the "Company") is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. The Company's international capital markets division operates in North America, UK & Europe, Asia, and Australia.
Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking information" as defined under applicable securities laws ("forward-looking statements"). These statements relate to future events or future performance and reflect management's expectations, beliefs, plans, estimates, intentions and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts, including business and economic conditions and Canaccord Genuity Group's growth, results of operations, performance and business prospects and opportunities. Such forward- looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend", "could" or the negative of these terms or other comparable terminology. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements.
In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, market and general economic conditions; the length of a regulatory review and approval of the transaction; ability of the parties to meet closing conditions; the dynamic nature of the financial services industry;; and the risks and uncertainties discussed from time to time in the Company's interim condensed and annual consolidated financial statements, its annual report and its annual information form ("AIF") filed on www.sedar.com as well as the factors discussed in the sections entitled "Risk Management" and "Risk Factors" in the AIF, which include market, liquidity, credit, operational, legal and regulatory risks.
Although the forward-looking statements contained in this press release are based upon assumptions that the Company believes are reasonable, there can be no assurance that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release and should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release. Except as may be required by applicable law, the Company does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether as a result of new information, further developments or otherwise.
SOURCE Canaccord Genuity Group Inc.
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