Nasdaq announced Friday that Nasdaq Canada president Helen Kearns is stepping down after three years and its Montreal office being closed as part of a reorganization that will see the Canadian operations handled out of the U.S.

Nasdaq Stock Market Inc. said Adam Nunes, New York-based director of strategy for NASDAQ Transaction Services, will take over leadership of Nasdaq Canada.

“ In order to integrate its strategic efforts in the U.S. and Canadian markets, going forward NASDAQ’s strong dealer relationships in Quebec, British Columbia, and Ontario will be actively supported from NASDAQ’s New York and Chicago offices,” the electronic stock market company said in a release.

“In conjunction with this change, NASDAQ’s Montreal office will be closed. Helen Kearns, president of NASDAQ Canada since 2001, will depart NASDAQ to pursue other business opportunities.”

During her tenure, Kearns oversaw key initiatives such as the expansion of direct access trading to the NASDAQ Stock Market. In November, the British Columbia Securities Commission approved NASDAQ Canada’s proposal for direct access to NASDAQ trading for investment dealers based in B.C.

Nasdaq said Nunes, who joined NASDAQ in 2000 and has held positions it its economic research and transactions areas, will retain his current responsibilities and continue to report to Chris Concannon, executive vice president of NASDAQ Transaction Services.

Concannon said the Canadian market is important to NASDAQ “and we will continue our efforts under the able leadership of Adam Nunes. Our focus in Canada is on the broker-dealer market and Adam’s deep knowledge of market structure make him a natural choice to lead our efforts.”