UBS Securities Canada has announced the retirement of Chairman Jim Estey.

In an internal announcement, the firm said Estey will be retiring from UBS on June 30, after 27 years of service.

“Under his guidance firstly as the head of equities and then as the president and CEO of UBS Securities Canada, this business experienced tremendous growth and profitability, firmly establishing itself as the leading international equities and IBD franchise in Canada,” stated Daniel Coleman & Rick Leaman, joint global head of equities and joint global head of investment banking, respectively.

Coleman and Leaman also cited his work as a member of both the UBS Investment Bank board and the Americas Equities Business Committee. “We would like to thank Jim on behalf of all his colleagues for the outstanding commitment and contribution he has made to the group. His strength of leadership, market acumen, approach to cost and commitment to the principles of recruitment, diversity and mentorship have been very considerable and will be missed,” they added.