Directors
David Kassie (Group Chairman)
Peter Brown (Chairman)
Paul Reynolds
Charles Bralver
Massimo Carello
William J Eeuwes
Philip Evershed
Matthew Gaasenbeek
Michael Harris
Timothy J.D. Hoare
Terrence A. Lyons
Mark G. Maybank
Michael A. Walker
John B. Zaozirny
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)
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. 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. David has extensive experience as an advisor, underwriter and principal. He sits on a number of corporate boards and he was a director of Alliance Atlantis Communications Inc. from 1992 to 2007.
David is actively involved in community and charitable organizations and is on the boards of directors of the Hospital for Sick Children, the Richard Ivey School of Business at the University of Western Ontario and the Toronto International Film Festival Group.
He holds a B.Comm. (Honours) in Economics from McGill University, and an MBA from the University of Western Ontario.
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Peter M. Brown, O.B.C., LL.D. (1997)
Chairman and a director of Canaccord Financial Inc. and Canaccord Financial Ltd. In 1968 he joined Hemsworth, Turton & Co., Ltd., which subsequently became known as Canaccord Financial Ltd.
Since 1968, Mr. Brown has been involved in the Canadian capital markets. Mr. Brown is currently a member of the board of directors of IIROC (Investment Industry Regulatory Organization of Canada, formerly the IDA) and is a past member of the board and of the executive committee of the Investment Dealers Association. He is a past Chairman of the Board of the University of British Columbia, the Vancouver Stock Exchange, BC Place Corporation and BC Enterprise Corporation. He was also the Vice Chairman of Expo '86 Corporation.
He is currently on the board of trustees for The Fraser Institute, a Canadian research organization. He is a past member of the Chief Executives Organization and the Young Presidents Organization. He is a former member of the board of governors of the Atlantic Institute for International Affairs, the CICA Accounting Research Advisory Board and the Council for Business and the Arts in Canada.
Mr. Brown is a past recipient of the BC Chamber of Commerce Businessman of the Year award. He was awarded the BC & Yukon Chamber of Mines Financier Award for 2000, the Ernst & Young Pacific Entrepreneur of the Year Award for 2001 and in 2002 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 recognizing his community service. In June 2003, he was awarded the Order of British Columbia recognizing his fundraising efforts for various charities and organizations in British Columbia as well as the vital role he has played in financing hundreds of British Columbia businesses.
In February 2004, Mr. Brown was named "Person of the Year" by the Brotherhood Inter-Faith Society of British Columbia and in 2007 he was named Distinguished Graduate by St. George's Private School. In 2005 Mr. Brown received an honorary Doctor of Laws from the University of British Columbia. He is currently a member nominated by the Government of Canada of the board of directors of the Vancouver Organizing Committee of the 2010 Olympic and Paralympic Winter Games (VANOC).
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Paul D. Reynolds (2005)
Paul Reynolds was named as President of Canaccord Financial Inc. in August 2006, and CEO in August 2007. Mr. Reynolds has also been Vice Chair, Global Head of Canaccord Adams since April 2005. He is very active in investment banking operations and leads the firm from Canaccord's Vancouver, BC office.
Mr. Reynolds has over 20 years of experience in the securities industry beginning as a floor trader. He joined Canaccord in 1985, working as an Investment Advisor in Vancouver. Mr. Reynolds specialized in financing emerging and developing companies in the resource, technology and biotechnology sectors.
Between 1999 and 2008, he managed Canaccord's London, England office as President and COO of European operations. Mr. Reynolds has been integral to the development of our business in Europe and a primary contributor to our successful position as an active participant in the European equity markets, specializing in small to medium-sized emerging companies.
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Charles N. Bralver (2010)
Mr. Bralver has over 30 years of experience in the global financial services industry. As a founding partner and Vice Chairman of Oliver Wynam & Company, he led that firm's Global Capital Markets practice with a focus on traded products' exchange, traded-market infrastructure strategy and product development. Mr. Bralver currently serves as the Senior Associate Dean of International Business and Finance at Tufts University, where he is also the Executive Director of the Centre for Emerging Market Enterprises.
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Massimo Carello (2008)
Audit Committee
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) Presidents 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. Mr. Carello is a non-executive director and a member of the audit committee of Uranium One Inc. (a uranium producer listed on the Toronto and Johannesburg Stock Exchanges).
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William J. Eeuwes (2002)
Audit Committee
Corporate Governance and Compensation Committee
Vice President of Manulife Capital, with more than 25 years of experience in underwriting and the management of a broad range of asset classes. Mr. Eeuwes is a Fellow of the Institute of Canadian Bankers and is a director of a number of other public companies.
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Philip Evershed (2010)
Philip Evershed became a director of the Company on the closing of the acquisition of Genuity Capital Markets on April 23, 2010. He was a principal of Genuity Capital Markets, a Canadian investment bank, from its founding in 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 and he became Managing Director of Investment Banking of Canaccord Genuity Corp.
Before co-founding Genuity, Phil spent 14 years at CIBC World Markets, most recently as Co-Head of Investment Banking and Head of Mergers and Acquisitions. Before joining CIBC, he was Chief of Staff to the Deputy Prime Minister of Canada. Phil sits on the boards of directors of Canadian Satellite Radio Holdings Inc. and Iogen Corporation.
He has an MA (Economics) from the University of Toronto and a BA (School of Business and Economics) from Wilfrid Laurier University.
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Matthew Gaasenbeek (2010)
Matthew Gaasenbeek has over 15 years experience in the securities and financial services business. He has been instrumental in building the North American Capital Markets team at Canaccord Genuity, where he has advised on over $15 billion and been involved in over 12,500 transactions.
Prior to joining the firm, Matt worked as a management consultant with Price Waterhouse. Matt holds an MBA from the Ivey School of Business.
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Michael D. Harris (2004)
Corporate Governance and Compensation Committee
Senior business advisor with Goodmans LLP in Toronto and Premier of the Province of Ontario from 1995 to 2002. Mr. Harris is also a director of a number of other public companies, serves as a director of the Tim Horton Children's Foundation and sits on the board of St. John's Rehabilitation Hospital.
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Timothy J.D. Hoare (2005)
Chairman & Chief Executive Officer of Canaccord Adams Limited. In 1990 Mr. Hoare became a director of Credit Lyonnais Laing International. In 1993 Mr. Hoare established T. Hoare & Co. Limited, an investment dealer based in London, England. Canaccord acquired a minority interest in T. Hoare & Co. Limited in 1996 and in 1999 it became a wholly-owned subsidiary, now named Canaccord Adams Limited.
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Terrence A. Lyons (2004)
Audit Committee
Corporate Governance and Compensation Committee
Chairman of Northgate Minerals Corporation and a director of several private companies. In 1986, he became Senior Vice President of Versatile Corporation and presided over the restructuring of the corporation, which is now known as B.C. Pacific Capital Corporation, a senior merchant and investment banking company, which is part of Brookfield Asset Management.
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Mark G. Maybank (2006)
Mark Maybank is President and Chief Operating Officer of Canaccord’s Canadian operations, overseeing both the Wealth Management and Institutional businesses. He is also the Chief Operating Officer of the Canaccord Financial group comprising its US, UK and International businesses with over $600 million in revenue and 1539 employees.
Before joining Canaccord, Mr. Maybank was Chief Operating Officer and Executive Vice-President, Corporate Development at a technology services and software development firm with interests in venture capital and mergers and acquisitions. Prior to that, he was a Technology Analyst with Yorkton Securities and Chief Financial Officer of a US-based cellular services company. He has also held various positions with a large multi-national accounting and consulting firm which included cross-border taxation and valuation advisory. Mr. Maybank is also Co-Chair of Gold Medal Plates, a Canadian Olympic Committee-endorsed charity focused on athletic development in Canada.
Mr. Maybank has earned both his Chartered Accountant and Chartered Business Valuator designations.
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Michael A. Walker (2006)
Dr. Michael Angus Walker is a Senior Fellow at the Fraser Institute and President of The Fraser Institute Foundation. From its inception in 1974, until September 2005, Dr. Walker directed the activities of The Fraser Institute, an independent public policy organization. Before that he taught at Carleton University and prior to that at the University of Western Ontario. He has previously worked at the Bank of Canada and then subsequently joined the Federal Department of Finance. He received his Ph.D. at the University of Western Ontario and his B.A. at St. Francis Xavier University, Nova Scotia.
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John B. Zaozirny, Q.C. (2004)
Joined Canaccord in January 1996 as a director and Vice- Chairman of its Board and is a member of its capital markets group. He also serves as counsel to McCarthy Tétrault LLP and is a member of the Law Societies of Alberta and British Columbia. Mr. Zaozirny served in the Alberta legislature as minister of energy from 1982 to 1986. He is also a director of a number of other public companies.
The date appearing after the name of each director indicates the year in which he became a director. The term of office will expire at the next Annual General Meeting in 2009.
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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