The chief executive of Canaccord Genuity Group Paul Reynolds has died aged 52, while competing in a triathlon.
Reynolds was in Hawaii at the time. He leaves behind a wife and four children.
Chairman David Kassie has taken on the additional role of chief executive with immediate effect.
Kassie added: "This is a difficult day for everyone at Canaccord Genuity. As the architect of our firm's global transformation, Paul's distinct style of partnership, friendship and respect over three decades of commitment is just part of the legacy he leaves us all.
"On behalf of all employees and the board of directors, I extend our deepest condolences and support to Paul's family and to the many people who came to know him as a colleague, mentor and friend."
Canaccord praised Reynolds as a “confident” leader who developed the business from “its roots as a Canadian brokerage through numerous initiatives and transactions to become a leading independent global investment bank”.
“The family would like to thank everyone who has sent emails offering support, comfort and prayers,” it said in a statement.