Deacon moved to Prince Edward Island in 1981, where he was the founder and chair of Atlantic Canada's first venture capital fund, Atlantic Ventures Trust. He also continued his passion as an active volunteer, becoming president of the PEI Red Cross, chair of the Atlantic Provinces Economic Council, a board member of Mount Allison University (the alma mater of his maternal grandfather, The Hon. Henry Emmerson), a director of the SmartRisk Foundation and National Commissioner of Scouts Canada. Deacon was deeply honoured when his service to Scouts Canada was recognized with his being presented with the Silver Wolf Award by Queen Elizabeth II at a ceremony at Buckingham Palace.