Tough markets for small-cap stocks are hurting boutique brokerages, but that hasn't stopped them from bringing in new faces to their sales desks in hope of generating business.
GMP Securities, a division of GMP Capital , is adding to its sales desk by poaching a professional from rival Cormark Securities. The firm is bringing on Mark Souvenir, who is expected to have a focus on equity sales to U.S. clients.
Mr. Souvenir had previously worked at Wellington West and Scotia Capital.
His move follows the recent hiring by Casimir Capital of two former Wellington West staff members for its sales and trading division.
Casimir brought in Mike Dilay and Keith Gilday, both of whom had been at Wellington before its recent acquisition by National Bank of Canada .
Their hirings come not long after Casimir picked up an energy team from Wellington.
Mr. Dilay and Mr. Gilday help Casimir fill some holes on the sales desk left by departures earlier in the summer.