Separating himself from the pack: David Kassie, MBA ’79, on leadership

David Kassie, MBA ’79, didn’t become a successful financier by following a straight line in his career. Instead, the Chairman of Canaccord Genuity Corp. prepared himself for doors that might open and was able to walk through them because he differentiated himself.

“Vision is important. You really need to know where you are going. There’s no point in just showing up and doing what the last person did. That’s not very interesting. For me, it was either about building, or growth, or change,” Kassie told HBA1 students at the annual Richard G. Ivey Speaker Series on September 19 to kick off Ivey’s Homecoming 2014 festivities.

Kassie walked students through four major turning points in his career where his leadership approach was the critical factor in his success:

1. When he developed CIBC Wood Gundy Capital in 1989 and led it to unparalleled growth;
2. While leading CIBC World Markets in 1993 to become the dominant bank in Canada;
3. When branching off to found the investment banking firm, Genuity Capital Markets; and
4. While negotiating the sale of Genuity to Canaccord Financial in 2010 to create global investment bank, Canaccord Genuity Corp.

Noting that these career milestones were not without challenges, Kassie said vision, values, and honesty were factors in his success.

“Be good. Do the right thing and be consistent about doing the right thing,” he said. “Be honest. Be candid with people and tell them the truth. It’s remarkable how such a simple thing that you learn when you’re a kid is so important and how many people forget it later on in life.”

Keeping an eye on the big picture

Being honest with people at times meant moving employees into new roles that capitalized on their strengths.,. He likened this approach to how San Antonio Spurs Coach Gregg Popovich led the team to success by putting players in positions that played to their strengths and hid their weaknesses.

He also advised students to always try to see the big picture – even when starting in more junior roles early in their careers.

“I would always try to anticipate what a client or CEO was thinking and I would think about how I would answer their questions. It was a good practice for understanding the big picture,” he said. “It’s so much about people and understanding why they do what they do. It gives life and meaning to your role.”

But his most important piece of advice had nothing to do with business, strategy, or leadership. He encouraged the students to follow their passions above all.

“You only have one life to live, so find something you love,” he said.

In addition to speaking at the Richard G. Ivey Speaker Series, Kassie, received the Ivey Distinguished Service Award to recognize his longtime service to the School, including his involvement as an of the Ivey Advisory Board member.