Body of brokerage founder recovered in Lake Ontario

The body of GMP Capital Inc. co- founder Brad Griffiths has been recovered by divers, five days after he went missing in Ontario's Lake Joseph. Using a remotely operated underwater vehicle, the divers located Griffiths' body at 6:23 p.m. yesterday at a depth of 295 feet (90 meters), Ontario Provincial Police said in an e-mailed statement. A post-mortem will determine the cause of death, police said. Griffiths, 55, was seen in the water in distress at about 12:43 p.m. on July 18, the West Parry Sound Ontario Provincial Police said in a July 19 statement. A motorboat also was spotted in the area, about 200 kilometers (124 miles) north of Toronto, moving without an operator. Several people in boats searched the area without success for the Toronto man, who wasn't believed to be wearing a lifejacket, police said. Griffiths and Eugene McBurney founded the predecessor company Griffiths McBurney & Partners in 1995, according to the company's website. The brokerage offered shares to the public in December 2003. Griffiths left the firm in 2000, according to the Globe and Mail newspaper. He also worked for Canadian Imperial Bank of Commerce and Canaccord Financial Inc., the newspaper said. --Bloomberg News--