CANACCORD GENUITY GROUP INC. THROUGH ITS WEALTH MANAGEMENT BUSINESS IN THE UK & CROWN DEPENDENCIES ANNOUNCES COMPLETION OF ITS ACQUISITION OF BROOKS MACDONALD ASSET MANAGEMENT (INTERNATIONAL) LTD.
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PR Newswire
TORONTO, February 24, 2025
TORONTO, February 24, 2025 /PRNewswire/ -- Canaccord Genuity Group Inc. (TSX: CF) (the "Company") is pleased to announce that through its wealth management business in the UK & Crown Dependencies ("CGWM UK") it has completed its purchase of Brooks Macdonald Asset Management (International) Limited ("BMI"), previously a wholly owned subsidiary of Brooks Macdonald Group plc ("Brooks Macdonald").
The acquisition represents an important strategic addition to the Company's operations in Guernsey, the Isle of Man, and Jersey. As previously disclosed, the professionals and clients of BMI will benefit from being part of a larger integrated wealth management business with deep resources and a strong commitment to supporting their long-term growth and success.
David Esfandi, Chief Executive Officer of CGWM UK said: "This acquisition is another step forward in our mission to become the best integrated wealth manager in the region by performance and service. With this investment, we increase our ability to serve the complex needs of international clients who have clear ambitions and need a trusted partner to help them achieve their goals."
ABOUT CANACCORD GENUITY GROUP INC.
Through its principal subsidiaries, Canaccord Genuity Group Inc. (the "Company") is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. The Company's international capital markets division operates in North America, UK & Europe, Asia, and Australia.
Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking information" as defined under applicable securities laws ("forward-looking statements"). These statements relate to future events or future performance and reflect management's expectations, beliefs, plans, estimates, intentions and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts, including the completion of the acquisition and the timing thereof, receipt of regulatory approvals for the acquisition, future business growth, business and economic conditions and Canaccord Genuity Group's growth, results of operations, performance and business prospects and opportunities. Such forward- looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend", "could" or the negative of these terms or other comparable terminology. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements.
In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, market and general economic conditions; the length of a regulatory review and approval of the transaction; ability of the parties to meet closing conditions; the dynamic nature of the financial services industry; and the risks and uncertainties discussed from time to time in the Company's interim condensed and annual consolidated financial statements, its annual report and its annual information form ("AIF") filed on www.sedarplus.ca as well as the factors discussed in the sections entitled "Risk Management" and "Risk Factors" in the AIF, which include market, liquidity, credit, operational, legal and regulatory risks.
Although the forward-looking statements contained in this press release are based upon assumptions that the Company believes are reasonable, there can be no assurance that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release and should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release. Except as may be required by applicable law, the Company does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether as a result of new information, further developments or otherwise.
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