Mark Maybank has resigned as COO of Canaccord Financial Inc. and president of Canaccord Genuity Corp., the company said Tuesday.

His resignation is effective immediately.

“I want to personally thank Mark Maybank for the significant role he played in the development of Canaccord Financial,” said Paul Reynolds, CEO and president, said in a release.

“His contribution over the last 10 years is immeasurable and we all wish him well in his next endeavour.”

Through its principal subsidiaries, Canaccord Financial (TSX:CF) is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and global capital markets.