The independent investment dealer GMP Capital has appointed chief executive officer Kevin Sullivan as deputy chairman of the firm and replaced him with Harris Fricker, who is currently serving as president.

The Canadian company, which is headquartered in Toronto, stated that Sullivan will spend his full-time efforts on client-focused initiatives, working on key strategic projects, mentoring GMP’s professionals and increasing brand awareness.

Last year, GMP Capital and Richardson Financial Group combined their respective wealth management businesses, calling the new entity Richardson GMP.

In other recent news, GMP Capital reported revenues of $194.3 million, up from $168.3 million, in its half-year results.