Dan Coyne is not done with Canaccord Genuity Group Inc. after all.
The firm's recently departed head of U.S. investment banking is back about two weeks after leaving.
In a memo to staff, Jeff Barlow, president of Canaccord's U.S. operations, announced that Mr. Coyne is returning to his former role. "It was a very challenging decision for him to decide to leave," Mr. Barlow wrote in the memo.
"As he spent time reflecting on his decision and in subsequent discussions with his partners at Canaccord Genuity, he realized he was neither ready to leave the firm nor the industry," he added.
When Mr. Coyne originally left, it was because of personal reasons, according to chief executive officer Dan Daviau.
The rehiring of Mr. Coyne will save the firm from having to replace one of its biggest producers in the U.S. He joined Canaccord in 2006 after the Canadian broker-dealer acquired his previous employer, Adams Harkness Financial Group, a Boston-based boutique. Mr. Coyne became head of U.S. banking last year.