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Canaccord Genuity Group Inc. announces a restructuring of its UK capital markets business
Canaccord Genuity Group Inc. announces a restructuring of its UK capital markets business ...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. announces a restructuring of its UK capital markets business\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 31, 2019\n\n\n\nTORONTO, March 31, 2019 /CNW/ - Canaccord Genuity Group Inc. (TSX: CF, \"Canaccord Genuity\", the \"Company\") announces that it is implementing a plan to restructure its capital markets business in the UK.   The objective of the plan is to enhance the Company's ability to achieve its goal of operating at a level which can generate profits from all its businesses on a sustained basis.\n\n \n \n\n \nA prolonged period of political and market uncertainty in the UK has impacted capital raising and related activities in the region resulting in unacceptable returns. Accordingly, the Company has determined that it is necessary to implement this plan to rationalize its investment in UK-based capital markets activities.  The Company's capital markets business in the UK operates as Canaccord Genuity Limited.\nThe plan is expected to result in a significant reduction in the Company's London-based capital markets staff level and will primarily affect businesses and related functions that do not align with the core capabilities of Canaccord Genuity's broader global capital markets operations and are most sensitive to changes in the current market environment. The Company anticipates operating a more focused UK Capital markets business, which is capable of delivering excellence for its clients across a smaller group of core focus sectors.\nIn connection with the restructuring, the Company will record a ...