Veteran investment banker, Neil Johnson, is out at the venture capital firm he helped start, Difference Capital Financial Inc., the firm said today.
Johnson has resigned from his post as president of Difference Capital Financial (DCF) and as CEO of Difference Capital Inc., effective Friday, the firm said. He was appointed president back in February.
Prior to founding Difference Capital in 2012, Johnson was head of Vancouver-based Canaccord Genuity Inc.’s operations in the UK. Johnson started his career at Canaccord as an analyst in 1993 and held a number of roles at the firm until his departure.
“On behalf of Difference Capital, I’d like to thank Neil for his significant contributions to DCF through its formative stage as well as his efforts to ensure an orderly transition. We wish him the best in his future endeavors,” said Mike Wekerle, co-founder of the firm and CEO of Difference Capital Financial, in a statement.
The firm is due to release its latest quarterly results on August 12, and will hold a conference call with shareholders the following day. Last month, three of the company’s directors resigned and the firm announced that Difference Capital Management Inc., the manager of DCF, was undertaking an internal reorganization and review process that would “likely result in personnel changes, and will involve a rigorous portfolio review…designed to refocus and streamline the corporation’s investment strategy and decision making.”