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Report: GMP Capital head of US ops departs

GMP CapitalInc.'s head of U.S. operations, Chris Tate, has left the companyearly in the week of July 4, The WallStreet Journal reported July 7, citing "a person familiar with thematter."

Bob Schoenthal, a senior executive in the company's U.S.operations, will replace Tate, effective immediately, the news publicationsaid, citing a company spokesman. The spokesman declined to specify any reasonfor Tate's departure though he confirmed the move. Tate could not be reachedfor comment, the Journal added.

In January, GMP Capital announced a series of in itscapital markets division. The changes are aimed at reducing the size of thecompany's global footprint, further streamline its fixed cost structure andimprove its focus on core North American operations.