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GMP Capital Inc. Announces Executive Management Retirement

^{Published on 2011-08-24 13:56:10 - Market Wire}
 

TORONTO, Aug. 24, 2011 /CNW/ - GMP Capital Inc. ("GMP") (TSX: GMP) announced today that Michael Wekerle, Vice Chairman, GMP Securities L.P., will be retiring effective August 24, 2011, having transitioned out of his day-to-day role on the trading desk earlier this year. Mr. Wekerle joined GMP in 1995 and co-founded the firm's sales and trading operations.

Commenting on the announcement, Harris Fricker, Chief Executive Officer, said "Mike has been a valued colleague and partner and was instrumental in shaping GMP's reputation for exceptional client service and superior execution. We fully understand and support Mike's decision and want to express our deep appreciation for his leadership and guidance to GMP's trading operations over the past 15 years."

In connection with this retirement, Mr. Wekerle has entered into a two-year consulting agreement with GMP where he will continue to promote the interests of GMP Securities L.P. in an advisory capacity. GMP expects to record a charge of $5.0 million (pre-tax) in the third quarter of 2011 in connection with Mr. Wekerle's retirement and in recognition of his long standing contributions to the firm.

Commenting on his retirement, Mr. Wekerle said "It has been my privilege to lead the evolution of GMP into one of the country's leading institutional trading firms and it has been an honour to work with such an exceptional and dynamic group of professionals."

ABOUT GMP CAPITAL INC.
GMP Capital Inc. ("GMP") is a leading diversified financial services firm headquartered in Toronto, Canada, providing a wide range of financial products and services to a client base that includes corporate clients, institutional investors and high-net-worth individuals in three integrated reporting segments. The Capital Markets segment provides investment banking, including advisory and underwriting services, institutional equity sales and trading and equity research through offices located in Toronto, Montreal, Calgary, London, Perth and Sydney. The Capital Markets segment conducts its business through the following operating entities: GMP Securities L.P., Griffiths McBurney Corp., GMP Securities Europe LLP and GMP Securities Australia Pty Limited. Wealth Management consists of GMP's non-controlling ownership interest in Richardson GMP Limited, a full-service independent firm focused on providing exclusive and comprehensive wealth management and investment services delivered by an experienced team of investment professionals. The Alternative Investments segment consists of the investment management and advisory services and alternative investment products provided by GMP Investment Management L.P. and EdgeStone Capital Partners, L.P. GMP is listed on the Toronto Stock Exchange under the symbol "GMP". For further information, please visit our corporate website at [ gmpcapital.com ].