January 17, 2012 - GMP Capital Inc. Announces Key Leadership Changes

TORONTO, January 17, 2012 — GMP Capital Inc. (“GMP”) (TSX: GMP) today announced a series of senior management changes aimed at enhancing the strategic linkages among GMP’s global product offerings, businesses and clients.

Assuming new leadership roles are:

  • Kevin Overstrom, currently Managing Director and Head of Institutional Equity Sales, assumes the role of Vice Chairman and Global Head of Equity and Debt Capital Markets;
  • Mark Christensen, currently Managing Director, Institutional Equity Sales, assumes the role of Vice Chairman and Global Head of Institutional Sales and Trading; and
  • Shawn Aspden, currently Managing Director, Institutional Equity Sales, assumes the role of Vice Chairman and Head of North American Institutional Equity Sales.

GMP also announced that Marko Pencak, Head of Research, left the firm. Mr. Pencak joined the firm in May 2003 as an industrial technology and renewable energy analyst and assumed leadership for the research department in 2008.

“I extend my deepest appreciation to Marko for his contributions over the years and wish him success in his future endeavours,” said Harris Fricker, CEO, GMP. Commenting further, Mr. Fricker said, “Given the continued growth of our firm in terms of product offerings and geographic scope, it is important that we empower and challenge our leadership team to leverage and align the firm’s expanded global capabilities to create opportunities to better serve our clients and shareholders. We look forward to the contributions of our new leaders.”

Concurrent with the above appointments, GMP expanded the mandate and membership of its Executive Committee to ensure the tactical decision-making and implementation of the firm’s strategic objectives is vested more broadly in the leadership of the firm. GMP’s current Executive Committee consists of Harris Fricker, CEO; Kevin Sullivan, Deputy Chairman; and Dan Tsubouchi, Vice Chairman, Co-Head of Investment Banking. GMP is pleased to announce the promotion to the Executive Committee of the following individuals across GMP and its subsidiaries:

  • Shawn Aspden, Vice Chairman and Head of North American Institutional Equity Sales
  • Doug Bell, Vice Chairman, Co-Head of Investment Banking
  • Chris Bond, Vice Chairman and Head, Institutional Trading
  • Simon Catt, Vice Chairman, Partner, GMP Securities Europe LLP
  • Mark Christensen, Vice Chairman and Global Head of Institutional Sales and Trading
  • Mark Hawkins, Vice Chairman, Institutional Trading
  • Kevin Overstrom, Vice Chairman and Global Head of Equity and Debt Capital Markets
  • John Rudd, Vice Chairman, President, GMP Securities, LLC
  • Jo-Anne Stansfield, Vice Chairman, Equity Capital Markets

GMP’s CEO serves as Chair of the Executive Committee.

“I believe GMP’s operational integrity and overall accountability to our shareholders will be further enhanced by engaging a broader leadership team,” said Mr. Fricker. All above noted changes remain subject to regulatory approval.


This press release contains “forward-looking statements” as defined under applicable Canadian securities laws. These statements include, but are not limited to, statements concerning our 2012 objectives, our strategies to achieve those objectives, as well as statements made with respect to management’s beliefs, estimates, projections and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans” or “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. These forward-looking statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in this press release. GMP’s primary business activities are both competitive and subject to various risks. These risks include market, credit, liquidity, operational and legal and regulatory risks and other risk factors including, without limitation, variations in the market value of securities, the volatility and liquidity of equity and fixed income trading markets, the volume of new financings and mergers and acquisitions (“M&A”), dependence on key personnel and sustainability of fees. Other factors, such as general economic conditions, including interest rate and exchange rate fluctuations, may also have an effect on GMP’s results of operations. Many of these risks and uncertainties can affect our actual results and could cause our actual results to differ materially from our current expectations. For further information, see the “Risk Management” section in the 2010 Annual MD&A, the “Risk Management” and “Risk Factors” sections in the Third Quarter 2011 MD&A and “Risk Factors” in GMP’s annual information form dated March 1, 2011. Material assumptions or factors underlying the forward-looking statements contained in this press release are set out in the “Business Environment and Market Outlook” section in the Third Quarter 2011 MD&A and include, without limitation, volatile capital markets, continued concerns of a global recession and the threat of sovereign debt defaults by certain European countries. Although forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Certain statements included in this press release may be considered a “financial outlook” for purposes of applicable Canadian securities laws, and as such the financial outlook may not be appropriate for purposes other than this press release. The forward-looking statements contained in this press release are made as of the date of this press release, and should not be relied upon as representing GMP’s views as of any date subsequent to the date of this press release. Except as required by applicable law, management and the board of directors of GMP undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.


GMP Capital Inc. (“GMP”) is a leading independent diversified financial services firm headquartered in Toronto, Canada, providing a wide range of financial products and services to a client base that includes corporate clients, institutional investors and high-net-worth individuals in three integrated reporting segments. The Capital Markets segment provides investment banking, including advisory and underwriting services, institutional sales and trading and research through offices located in Toronto, Montreal, Calgary, New York, Miami, Dallas, London, Perth and Sydney. The Capital Markets segment conducts its business through the following operating entities: GMP Securities L.P., GMP Securities, LLC, Griffiths McBurney Corp., GMP Securities Europe LLP and GMP Securities Australia Pty Limited. Wealth Management consists of GMP’s non-controlling ownership interest in Richardson GMP Limited, a full-service independent firm focused on providing exclusive and comprehensive wealth management and investment services delivered by an experienced team of investment professionals. The Alternative Investments segment consists of the investment management and alternative investment products provided by GMP Investment Management L.P. GMP is listed on the Toronto Stock Exchange under the symbol “GMP”.For further information, please visit our corporate website at gmpcapital.com.

For further information please contact:

GMP Capital Inc.

Rocco Colella, Director, Investor Relations

145 King Street West, Suite 300

Toronto, Ontario M5H 1J8

Tel: (416) 941-0894; Fax: (416) 943-6175

rcolella@gmpcapital.com or investorrelations@gmpcapital.com



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