David Kassie is a legend on Bay Street. From building CIBC World
Markets into a dominant force, to founding Genuity and
transforming it into Canaccord Genuity, his fingerprints are on
some of the most influential deals and institutions in Canadian
finance. But in this episode of In the Money with Amber Kanwar,
Kassie goes beyond the deals to talk candidly about the state of
Canada’s capital markets and what needs to change.
This wide-ranging conversation covers everything from the art of
the deal and what really drives great negotiation, to why
Canada’s funding system is failing entrepreneurs and independent
companies. Kassie shares stories from the early days of Genuity,
including a billion-dollar build from zero and tells an insider
story about how he knew Lehman Brothers was heading for collapse.
He also explains why he believes the rise of private credit could
be the next financial accident waiting to happen.
We dive into why Canada’s banking consolidation is choking
liquidity, why independent dealers are disappearing, and how
regulatory inaction has hurt innovation. He’s breaking new ground
with his latest venture, Outcome Metric Asset Management, where
the firm’s Canadian Equity Income Fund has earned the #1
Morningstar ranking in its category—out of several hundred
funds—on a year-to-date basis over the past 12 months.
Kassie pulls from decades of experience in investment
banking, merchant banking, and startup investing to share
hard-earned lessons on culture, strategy, and the difference
between winning fast and winning smart.
If you care about Bay Street, capital markets, private credit, or
the future of innovation in Canada, this is a must-watch
conversation with one of the most seasoned voices in Canadian
finance.
Timestamps
00:00 Show intro
02:30 How David Kassie became one of Canada’s most legendary deal
makers
04:50 What drives his entrepreneurial spirit?
07:15 The art of David Kassie’s deal
11:00 Break
11:40 What was David’s biggest win? The story behind
Genuity
15:25 What was it like during the 2008 financial crisis?
17:00 The big problems with Canada’s funding environment
22:50 Break
23:20 How do you fight for space in the market?
25:30 There is not enough capital in Canadian markets to support
entrepreneurs
27:30 What David has learned from his biggest mistakes
31:30 How David knew the financial crisis was coming (hint: it
involves Lehman Brothers)
40:00 Why David thinks the next crisis could involve private
credit
43:05 David’s new fund at Outcome Metric Asset Management and why
he’s so proud of it
45:45 David’s view on what’s best for Canada’s future
Sponsors
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DISCLAIMERS
The information provided in this podcast is for informational
purposes only and does not constitute financial, investment, or
professional advice.The views expressed by the host and guests
are their own and do not necessarily reflect the opinions of any
organization or company. The host and guests may maintain
positions in any securities discussed on the podcast. Always
consult with a qualified financial advisor or professional before
making any investment decisions.
In the Money delivers expert stock picks, actionable ideas, and
timely money management tips. Hosted by business journalist Amber
Kanwar, each episode features interviews with top portfolio
managers who suggest ways to achieve good returns. Covering
everything from ETFs and Canadian stocks to global investing
trends, dividend strategies, and risk management, this show is
made for DIY investors, stock market enthusiasts, and anyone
looking to sharpen their financial strategy.
Contact: questions@inthemoneypod.com
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