Canaccord Financial Inc. (TSX:CF) reported Thursday a third-quarter profit of $15.1 million, reversing a year-earlier loss of $62.4 million, as the investment dealer saw revenues nearly double from a year earlier to $173.2 million.

Vancouver-based Canaccord, one of Canada’s largest wealth-management firms, said its earnings amounted to 27 cents per share, compared to a loss of $1.27 per share in the prior-year period when Canaccord recorded substantial one-time charges. Revenue was up from $87.2 million in the October-to-December period of 2008.

“There is much to be proud of in our third-quarter results, including strong revenue growth, a significant increase in profitability and meaningful gains in our return on equity,” Canaccord president and CEO Paul Reynolds said in a statement.

“However, we remain committed to improving our operating performance, believing there is even more that can be done to grow our strong global platform and generate lasting shareholder value.”

Its quarterly financial report didn’t address a news report Wednesday that suggested Canaccord may have been in talks to acquire Toronto-based Genuity Capital Markets.

Canaccord issued a statement saying it looks at acquisitions from time to time but “does not publicly comment on potential acquisitions unless and until a binding legal agreement has been signed.” The initial reports appeared on the Globe and Mail’s website, citing unidentified Bay Street sources.

Canaccord appoints new director

Also Thursday, Canaccord announced the appointment of Charles Bralver as a director, effective immediately.

Bralver, 57, has over 30 years of experience in the global financial services industry with firms including Chemical Bank, Booz, Allen & Hamilton and Warburg Pincus LLC. As a founding partner and Vice Chairman of Oliver Wyman & Co., Bralver led that firm’s global capital markets practice with a focus on traded products’ exchange and traded-market infrastructure strategy and product development. He holds a degree from Dartmouth College and a Master of Arts in Law and Diplomacy from The Fletcher School at Tufts University, where he currently serves as Senior Associate Dean of International Business and Finance and Executive Director of the Center for Emerging Market Enterprises.

Bralver is currently also a director of NewStar Financial, Inc., a listed Boston-based commercial finance company, and The Open Models Company LLC, a start-up-collaborative software platform for financial models.

with files from The Canadian Press