Canaccord Founder, Director and Honorary Chairman, Peter Brown

Canaccord Founder, Director and Honorary Chairman, Peter Brown

Mr. Paul Reynolds reports – Canaccord Genuity Group Inc.’s Peter Brown has resigned as a director and officer of the company, effective May 23, 2014, and will not be seeking re-election to the board of directors at the upcoming 2014 annual general meeting of shareholders.

“On behalf of the board of directors, management and all employees, I would like to thank Peter for his many contributions to the success of Canaccord Genuity in nearly five decades of service,” said Paul Reynolds, President and CEO of Canaccord Genuity Group Inc. “We wish him continued success in his ongoing endeavours within the Canadian capital markets and BC business community.”

Commenting on his departure, Peter Brown said: “I am proud of the progress made by current senior management. Building on a solid base, they have embarked on a very dynamic global expansion that has never before been envisioned by a Canadian independent investment dealer.  As the Founder, I am fortunate to have had a great corporate experience for 46 years and feel now is a good time for me to transition out of active service. I look forward to the firm’s continued exciting growth and development.  I would like to thank the many people I have worked alongside as well as the companies, investors and fellow advisors that have placed their trust in me over the years.”

Mr. Brown played a key role in the development of the company and its predecessors, from its 1968 beginnings as a venture capital firm to its initial public offering and growth to becoming Canada’s largest independent global investment dealer. He has served on the boards of numerous private sector and crown corporations over the years and is a member of the Order of British Columbia. In recognition of his significant contributions and service to the Canadian economy and business community, Mr. Brown was inducted into the Canadian Business Hall of Fame on May 15. Going forward, it is Mr. Brown’s intention together with some friends and partners, to pursue a new career advising established private companies with a growth profile and in need of private debt and equity financing.