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For GMP and Canaccord, ‘a perfect storm’ Add to ...

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In his 14 years at GMP Capital Inc., Harris Fricker has rarely seen it this bad.

The chief executive officer of GMP is grappling with heavy losses, falling revenue, evaporating bonuses and deep job cuts in the aftermath of the commodities crash.

It’s not just GMP. Canada’s once highly profitable independent investment banks and brokerages are reeling amid technological upheaval and a shrinking pool of deals at a time when big banks are muscling into their territory.

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