Canaccord cuts equity sales director Adam De Petro
De Petro has exited Canaccord after nine years as the broker trims its Melbourne ECM team.
Canaccord Genuity Australia has farewelled institutional equity sales director Adam De Petro in a shake-up of its equity capital markets (ECM) team.
In an internal note sent late on Sunday night and obtained by Capital Brief, the broker and corporate finance specialist informed staff that De Petro had departed after nine years with the firm.
"Please be aware that Adam De Petro is no longer with the firm due to changes within our Melbourne Equity Sales Team," the staff announcement said.
While Canaccord did not elaborate on the reasons behind the move in the note, sources familiar with the matter attributed the job cut to cost pressures and a recent dry spell in deal activity.
