Canaccord Financial Inc. announces Tim Hoare to step down as Chairman of Canaccord Genuity Limited; assumes role on Global Advisory Board

LONDON, July 9, 2013 /CNW/ - Canaccord Financial Inc. (the "Company", TSX: CF, LSE: CF.) announces that Tim Hoare will be stepping down from his position as Chairman of Canaccord Genuity Limited and assuming a role on Canaccord Financial's Global Advisory Board. 

"Tim's partnership was an important part of Canaccord Genuity's entry into the UK, and his exceptional client relationships and entrepreneurial flair have helped grow the business to become the market leader it is today," said Paul Reynolds, President and CEO of Canaccord Financial Inc. "I am pleased that Tim has agreed to have a continuing role with the firm and wish to thank him personally for his service as outgoing Chair of the UK business."

Commenting on his transition, Tim Hoare said: "Having been with Canaccord since the early 1990s, and having been Chief Executive of the European business for many years, I have decided that the time has come to move on. Canaccord has been a good home and I am extremely proud to have been able to have played a role in the considerable success it has enjoyed in the resources sector over this period.

I would like to thank the many people from around the world who have been so supportive in my career to date, be they governments - whose mining industries we have helped; companies that I have been privileged to advise; the many investors that placed their trust in me; and fellow advisers whom I have worked alongside, and indeed my colleagues."

The Company also announces that Paul Reynolds will assume the position of Chairman of Canaccord Genuity Limited, the Company's operating division in the UK and Europe, effective immediately.

ABOUT CANACCORD FINANCIAL INC.:

Through its principal subsidiaries, Canaccord Financial Inc. is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and global capital markets.  Since its establishment in 1950, Canaccord 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.  Canaccord has offices in 13 countries worldwide, including Wealth Management offices located in Canada, Australia, the UK and Europe.  Canaccord Genuity, the international capital markets division, operates in Canada, the US, the UK, France, Germany, Ireland, Italy, Hong Kong, mainland China, Myanmar, Singapore, Australia and Barbados. 

Canaccord Financial Inc. is publicly traded under the symbol CF on the TSX and the symbol CF. on the London Stock Exchange.

SOURCE: Canaccord Financial Inc.

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