Directors
David J. Kassie (Group Chairman)
Peter Brown (Honorary Chairman & Founder)
Paul Reynolds
Charles Bralver
Massimo Carello
William J Eeuwes
Michael Harris
Terrence A. Lyons
Dipesh Shah
Board Committees
Audit Committee
Corporate Governance and Compensation Committee
Please review our Board Mandate for responsibilities of our
members of the Board.
Biographies of Directors
David Kassie (2010)
Group Chairman
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David Kassie became Group Chairman and a director of Canaccord Financial Inc. on the closing of the acquisition of Genuity Capital Markets, a Canadian investment bank, on April 23, 2010, and became Chairman on April 1, 2012. He was the Principal, Chairman and Chief Executive Officer of Genuity Capital Markets from 2004 until May 9, 2010, when the integration of the businesses of Genuity Capital Markets and Canaccord Financial Ltd., was completed under the name Canaccord Genuity.Before 2004, he was Chairman and Chief Executive Officer of CIBC World Markets and the Vice Chairman of CIBC.
Mr. Kassie has extensive experience as an advisor, underwriter and principal. He sits on a number of corporate boards. Mr. Kassie is actively involved in community and charitable organizations and is on the boards of the Ivey School of Business and the Toronto International Film Festival Group, and was formerly on the Board of the Hospital for Sick Children.
Mr. Kassie holds a B.Comm. (Honours) in Economics from McGill University, 1977 and an MBA from the University of Western Ontario, 1979. |
Peter M. Brown, O.B.C., LL.D., Litt D (1997)
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Peter M. Brown was born in 1941 in Vancouver where he lives today. After attending the University of British Columbia, he entered the investment business with Greenshields Inc. in 1962. Today he remains Founder and Honorary Chairman of Canaccord Financial Inc. which he founded in 1968 and is now a global firm with offices in 12 countries including Canada, United States, UK, France, Germany, Ireland, Italy, China, Hong Kong, Singapore, Australia and Barbados.
Peter Brown is currently serving as Chairman of the Board for the Fraser Institute and Vice Chairman of the Investment Industry Association. Mr. Brown is British Columbia’s representative on the Advisory Committee to the Canadian Securities Transition Office to lead the transition to a single Canadian securities regulator. He is a Member of the Economic Advisory Council to the Federal Minister of Finance and is also currently serving as a federally appointed Lead Director and Member of the Finance Committee for the Vancouver 2010 Olympic & Paralympics Games which successfully brought the Vancouver 2010 Olympics to Canada. Recently, the Business Council of British Columbia appointed Mr. Brown to their Board of Governors. Peter Brown is the Chair of the Vancouver Police Foundation and Honorary Chairman of the fund drive for the Emily Carr University of Art & Design.
He has served on the boards of numerous private sector and crown corporations over the years. Formerly, he was a Director of the Vancouver Convention Centre Expansion Project Limited & Pavilion Corp (both Crown Corporations). Among his attainments, he was the past Chairman of the University of British Columbia, The Vancouver Stock Exchange, B.C. Place Corporation and B.C. Enterprise Corporation (both Crown Corporations). He was also the Vice Chairman of Expo 86 Corporation.
Mr. Brown is a recipient of the B.C. Chamber of Commerce Businessman of the Year award; the B.C. & Yukon Chamber of Mines Financier Award and the Pacific Entrepreneur of The Year Award for 2001. In 2002 he received the Distinguished Service Award by the Prospectors and Developers Association of Canada. In January 2003, Mr. Brown received a Commemorative Medal for the Golden Jubilee of Her Majesty Queen Elizabeth. In June 2003, he was awarded the Order of British Columbia. The Brotherhood Inter-Faith Society recognized Peter Brown as their Person of the Year in February 2004. In the spring of 2005, Mr. Brown received a honorary degree (Doctor of Laws) from the University of British Columbia. In 2007, he received the Distinguished Graduate Award from St. George’s School and the Ted Ticknor Award for Exceptional Contribution from Big Brothers of Greater Vancouver. In 2009, Mr. Brown received the Fraser Institute’s T. Patrick Boyle Founder’s Award. In 2010, Peter Brown was inducted into the Canadian Mining Hall of Fame recognizing his entrepreneurial spirit and contribution to Canada’s mining industry. He also became a Honourary Member of the Vancouver Police Pipe Band in 2009 and received the first ever civilian commendation from the Vancouver City Police. Ernst & Young recognized him with the Lifetime Achievement Award in 2010 and in May 2011 he was inducted into the Business Laureates of BC Hall of Fame.
In 2012 Peter Brown received the Vancouver Board of Trade Rix Award for Engaged Community Citizenship and an honorary degree (Doctor of Letters) from Emily Carr University of Art & Design. This September, the Investment Industry Association will be recognizing Peter with its Diamond Jubilee Medal for his contribution to the investment industry. In January 2013 he will be receiving an Honorary Degree from The Justice Institute of British Columbia. |
Paul D. Reynolds (2005)
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Paul Reynolds was named President of Canaccord Financial Inc. in August 2006, and CEO in August 2007 and leads the firm from Canaccord's Toronto office. Between 1999 and 2007, he managed Canaccord’s London, England office as President and COO of European operations and was named Global Head of Canaccord Genuity in April 2005.
Mr. Reynolds has over 28 years of experience in the securities industry beginning as an equities trader. In 1985, he joined Canaccord Financial, working as an Investment Advisor before moving into a senior role in institutional sales. In the late 1990’s Mr. Reynolds assumed a leadership role in investment banking where he specialized in financing emerging and developing companies in the resource, technology and biotechnology sectors.
Mr. Reynolds also serves on the boards of the International Crisis Group, the Hospital for Sick Children in Toronto and sits on the Global Commerce Advisory Panel for the Canadian Ministry of Foreign Affairs and International Trade. |
Charles N. Bralver (2010)
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Charles N. Bralver is a Corporate Director and Advisor. He was a founding partner and Vice Chairman of Oliver, Wyman & Co. and led its Capital Markets, European, and North American practices. He has also served as Senior Associate Dean for International Business and Finance at the Fletcher School of Tufts University, and as a Strategic Adviser to Warburg Pincus LLC. Mr. Bralver serves as a Director of Canaccord Financial and Newstar Financial, is a member of the Senior Advisory Boards of Oliver Wyman and Bema Capital Partners, and sits on the boards of the Fletcher School of Tufts University and the Dickey Center for International Understanding at Dartmouth College. He has an AB from Dartmouth College and an MA and MALD from The Fletcher School. |
Massimo Carello (2008)
Audit Committee
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Mr. Carello is a corporate director and a private investor in public companies. Mr. Carello was the Chairman and Chief Executive Officer of Diners Club UK Ltd. from 2001 to 2004 and was the Chairman and Chief Executive Officer of Fiat UK Ltd. from 1990 to 2001. Mr. Carello served as a member of the Confederation of British Industry (CBI) President’s Committee from 1998 to 2003 and was a member of the CBI European Committee. He was Vice President of the Italian Chamber of Commerce in the UK from 1998 to 2005. In addition to Canaccord Financial Inc., Mr. Carello is a director and a member of the Audit Committees of the following public companies: Canadian Overseas Petroleum Ltd. and Orsu Metals Corporation. Until December 2010, he was also a director and a member of the Audit Committee of Uranium One Inc. |
William J. Eeuwes (2002)
Audit Committee
Corporate Governance and Compensation Committee
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Mr. Eeuwes is Senior Vice President and Managing Director of Manulife Capital, a division of The Manufacturers Life Insurance Company. He has executive responsibility for four alternative assets teams in Canada: Manulife Capital (private equity and mezzanine), Project Finance (power and infrastructure), Regional Power Inc. and NAL Resource Management Limited (oil and gas). Before joining Manulife in 1999, Mr. Eeuwes was a career banker with 25 years of experience in underwriting and the management of a broad range of financing including LBOs, corporate lending and project finance. Mr. Eeuwes is a graduate of the Richard Ivey School of Business at the University of Western Ontario. In addition to Canaccord Financial Inc., Mr. Eeuwes is a director of the following public company: NAL Energy Corporation which is listed on the Toronto Stock Exchange. |
Michael D. Harris (2004)
Corporate Governance and Compensation Committee
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Michael Harris, ICD.D, is a senior business advisor with the law firm of Cassels Brock & Blackwell LLP in Toronto, and the President of his own consulting firm, Steane Consulting Ltd., and, in this capacity, acts as a consultant to various Canadian companies. Prior to joining Cassels Brock in March 2010, he was a senior business advisor with the law firm of Goodmans LLP in Toronto.
Mr. Harris was born in Toronto in 1945, and was raised in Callander and North Bay, Ontario. Before his election to the Ontario Legislature in 1981, Mike Harris was a schoolteacher, a school board trustee and chair and an entrepreneur in the Nipissing area. On June 8, 1995 Mr. Harris became the 22nd Premier of Ontario following a landslide election victory. In 1999, he was re-elected – making him the first Ontario Premier in over 30 years to form a second consecutive majority government.
In addition to sitting on several boards of Canadian corporations, he also serves as a director of the Tim Horton Children’s Foundation. He is the Honorary Chair of the North Bay District Hospital Capital Campaign and the Nipissing University and Canadore College Capital Campaign. Mr. Harris is also a Senior Fellow of The Fraser Institute. He has received his ICD.D certification from the Institute of Corporate Directors.
In addition to Canaccord Financial Inc., Mr. Harris is a director of the following public companies: Chartwell Seniors Housing Real Estate Investment Trust (Chair), FirstService Corporation, Routel Inc. (Chair), and Element Financial. |
Terrence A. Lyons (2004)
Audit Committee
Corporate Governance and Compensation Committee
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Terry Lyons is past Chairman, Northgate Minerals Corporation, which was recently acquired by Aurico Gold creating a new mid-cap gold company with a value of over $3 billion. He is a director of several public and private corporations including Sprott Resource Corp.; Polaris Minerals Corporation; EACOM Timber Corporation; BC Pavilion Corporation (Pavco) and currently serves as the Lead Director and Chairman of the Audit Committee of Canaccord Financial Inc.
Terry is a Civil Engineer (UBC) with an MBA from the University of Western Ontario. He sits on the Advisory Board of the Richard Ivey School of Business and is active in sports and charitable activities, is a past Governor of the Olympic Foundation of Canada, past Chairman of the Mining Association of BC and in 2007 was awarded the INCO Medal by the Canadian Institute of Mining and Metallurgy for distinguished service to the mining industry. |
Dipesh Shah (2012)
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Dipesh Shah is a director on the Boards of Thames Water and the Kemble Water Group of companies, JKX Oil & Gas Plc (where he is Senior Independent Director and Chairman of the Remuneration Committee), The Crown Estate and the EU Marguerite Fund (where he is Chairman of the Investment Committee). He is also a Trustee of the British Youth Opera and a Governor of Merchant Taylors’ School.
Mr. Shah was formerly the Chief Executive of the UK Atomic Energy Authority and of various large businesses in the BP Group, where he was a member of the Group Leadership for more than a decade. Mr. Shah was Chairman, inter alia, of Viridian Group plc, HgCapital Renewable Power Partners LLP and the European Photovoltaic Industry Association. In addition, he has been a Director of several major organizations, including Babcock International Group Plc and Lloyd’s of London. He was also a member of the UK Government’s Renewable Energy Advisory Committee from 1994 to 2002. Earlier, Mr. Shah was the Chief Economist for BP Oil UK.
Born in India, and brought up in Uganda, Mr. Shah is a graduate of the University of London, the University of Warwick, and the Harvard Business School management program. He was appointed an Officer of the Order of the British Empire (OBE) in the 2007 New Year Honours List, and is a Life Fellow of the Royal Society of Arts. |
Board Committees
The Board has delegated certain of its responsibilities to two committees, each of which has specific roles and responsibilities as defined by the Board. All Board committees are made up solely of non-management directors, a majority of whom are unrelated directors.
Audit Committee
The Audit Committee assists the Board of Directors in fulfilling its oversight responsibilities by monitoring the Company's financial reporting practices and financial disclosure. It comprises two unrelated directors and a third director who is related only as a director of a subsidiary. All members of the Audit Committee are financially literate; that is, they
are able to read and understand a set of financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of the issues that can reasonably be expected to be raised by the Company's financial statements.
The Audit Committee has adopted a charter which specifically defines the roles and responsibilities of the Audit Committee. The Audit Committee Charter can be found in the Company's AIF filed on SEDAR. The Audit Committee has direct communication channels with the external auditors and Chief Financial Officer and senior finance staff and discusses and reviews issues with each of them on a regular basis.
The Audit Committee is responsible to ensure management has designed and implemented an effective system of internal control. The external auditors are hired by and report directly to the Audit Committee. After consultation with management, the Audit Committee is responsible for setting the external auditors' compensation. The external auditors attend each meeting of the Audit Committee, and a portion of each meeting is held without the presence of management. The Audit Committee reviews and approves annually the external auditors' audit plan and must approve any non-audit work by the external auditors. The Chief Financial Officer and senior finance staff attend each meeting of the Audit Committee other than the portion of the meeting which is held without management present to allow a more open discussion. The Audit Committee reviews and approves annually the internal audit plan.
Audit Committee Charter
The current members of the Audit Committee are:
- Massimo Carello
- Terrence A. Lyons (Chair)
- William J. Eeuwes
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Corporate Governance and Compensation Committee
The Corporate Governance and Compensation Committee is responsible for developing the Company's approach to governance issues, reviewing the Company's overall governance principles and recommending changes to those principles from time to time. The committee has full access to staff and resources. At all regular committee meetings during the year, a portion of such meeting is held without management present to allow a more open discussion.
The current members of the Corporate Governance and Compensation Committee are:
- Michael D. Harris (Chair)
- William J. Eeuwes
- Terrence E. Lyons
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