GMP Chief Executive Sullivan Departing, Globe and Mail Says

Aug. 23 (Bloomberg) -- GMP Capital Inc. Chief Executive Officer Kevin Sullivan is stepping down and handing his day-to-day duties to President Harris Fricker, the Globe and Mail reported, citing an unidentified person.

The transition plan has been in place “for some time,” the newspaper reported late today on its website. Fricker joined GMP’s investment bank in 2002.

A phone call placed to GMP officials after business hours by Bloomberg News wasn’t immediately returned.

To contact the reporter on this story: Sean B. Pasternak in Toronto at spasternak@bloomberg.net.

To contact the editors responsible for this story: David Scanlan at dscanlan@bloomberg.net; Alec McCabe at amccabe@bloomberg.net