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John Rothwell, former head of wealth management for Canada at Canaccord Genuity Corp.
John Rothwell, former head of wealth management for Canada at Canaccord Genuity Corp.
(Fred Lum/The Globe and Mail)

Canaccord looks to new president for turnaround

Canaccord Genuity Corp. is bringing in a new head for its Canadian wealth management business as the firm looks to turn around its money-losing retail brokerage network.

The firm is replacing John Rothwell, who ran wealth management since 2008, with brokerage industry veteran Stuart Raftus. Mr. Raftus has worked at numerous wealth management firms, from big (Merrill Lynch) to small independent (Canada’s Beacon Securities). He has also worked as head of wealth management at Oppenheimer & Co. and head of wealth management distribution in the U.S. for Canadian Imperial Bank of Commerce.