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Canaccord hires ex-GMP veteran for equity capital markets role

Derek Lam joined Canaccord as director, capital markets origination.

Gloria Nie/The Globe and Mail

Canaccord Genuity Group Inc. is strengthening its equity capital markets team with the hiring of veteran institutional salesman Derek Ham. On Monday, Mr. Ham joined Canada's largest independent broker-dealer as director, capital markets origination.

"He has a proven track record of increasing revenue by developing and maintaining strong relationships with institutional buy side accounts and corporate issuers," Graham Saunders, head of capital markets origination at Canaccord, wrote in a memo to staff.

Mr. Ham is well known on the street, having worked for a number of independents in senior sales roles. He spent more than 14 years at GMP Capital Inc. in institutional equity sales before moving to DRH Capital Corp. in 2013. Earlier in his career, Mr. Ham worked on the sales desk at renowned 1980s and 90s-era boutique Gordon Capital.

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Separately, in its wealth management division, Canaccord announced last week it had recruited a team of high-net-worth advisers from Vancouver-based LePoidevin Group. Headed up by portfolio manager David LePoidevin, the group is expected to add about $1-billion in client assets to Canaccord's wealth platform.

Canaccord is making a push to become a bigger player in wealth management in Canada. In September, the firm raised $60-million to hire more investment advisers.

Canaccord competes with the likes of Richardson GMP Ltd. (RGMP), which has about $27-billion in assets, and Raymond James, which has $36-billion. Canaccord had about $9.8-billion in assets as of the end of June.

The wealth management sector has been generating heat lately with RGMP in play. Last month, The Globe and Mail reported TD Bank is among the bidders for the company. Canaccord has said it is not interested in bidding for RGMP.

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About the Author
Capital Markets Reporter

Niall McGee joined the Globe and Mail in 2014 as a capital markets reporter. Previously, he spent a decade at Business News Network (BNN) as a reporter and segment producer. In 2016, he won a National Newspaper Award (NNA) in business alongside veteran reporter Jacquie McNish for an investigative series into alleged insider trading at online gambling company Amaya Inc. More

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