The firm's president and CEO has been hospitalised after a medical emergency and chairman David Kassie will take over on an interim basis.

Canaccord Genuity Group, the Canada-based financial group working in sectors including wealth management in the UK and elsewhere, today said its president and chief executive, Paul Reynolds, been hospitalised following an unexpected medical emergency during a family vacation.  

Reynolds remains in serious but improving condition. The firm's chairman, David Kassie, will assume the role of CEO on an interim basis until Reynolds is able to resume his duties, Canaccord said in a statement.

"We are optimistic for Paul's full and speedy recovery," Kassie said. "He is awake and responsive with his family by his side,” he added.

The Reynolds family have asked for their privacy to be respected during his period of recovery.

This publication extends its best wishes to Reynolds and his family at this time.