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London banker, Canada exec in running for Canaccord CEO post

Reuters - UK Focus

By Rama Venkat Raman

July 30 (Reuters) - Canadian dealmaker Daniel Daviau and London investment banker Alexis de Rosnay are in the running for the chief executive post at Canaccord Genuity Group Inc, said a source familiar with the matter.

Bloomberg first reported on Thursday that the two were the front-runners for the post and they would present their business plans to the company's board next month. (http://bloom.bg/1DbgXhT)

Daviau is the chief executive of Canaccord's North American capital markets business, while de Rosnay is a former banker whose previous employers include JPMorgan Chase & Co (Xetra: 850628 - news) and Lehman Brothers Holdings Inc.

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Canaccord said in April that its CEO Paul Reynolds had died, three days after he fell ill while competing in a triathlon in Hawaii.

The company has been hit hard by a combination of tighter regulatory requirements, tougher competition from bank-owned dealers and a slump in activity from resource companies, which have traditionally been the backbone of the Canadian market.

Canaccord's shares closed at C$7.08 on the Toronto Stock Exchange on Wednesday. Up to Wednesday's close, the stock had nearly halved in the past 12 months. (Editing by Kirti Pandey)