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Canaccord Genuity Group Inc. Through its Australian Operation Announces Acquisition of Patersons Securities Limited
Canaccord Genuity Group Inc. Through its Australian Operation Announces Acquisition of Pat...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Through its Australian Operation Announces Acquisition of Patersons Securities Limited\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and MELBOURNE, June 10, 2019\n\n\n\nAgreement substantially increases scale of the Company's wealth management business in the region and establishes a significant platform for expansion in Australia\n TORONTO and MELBOURNE, June 10, 2019 /CNW/ - Canaccord Genuity Group Inc. (TSX: CF, \"Canaccord Genuity\", the \"Company\") is pleased to announce that through its Australian operation, Canaccord Financial Group (Australia) Pty Ltd (\"Canaccord Genuity Australia\"), it has agreed to acquire Patersons Securities Limited (\"Patersons\"), a premier independent Australian securities business, with operations in wealth management and capital markets. \n\"This transaction builds upon the work that our Australian partners have done to make Canaccord Genuity an increasingly stronger competitor in Australia\" said Dan Daviau, President and CEO of Canaccord Genuity Group Inc. \"The addition of Patersons supports our strategy of substantially increasing the scale of our wealth management operations and improving our business mix to deliver greater stability and long-term value for our clients and our shareholders.  We look forward to supporting continued growth in Australia.\"\n\"This business combination creates a leading Australian capital markets, stockbroking and wealth management business with a powerful offering for our respective corporate, institutional, and private clients,\" said Marcus Freeman, CEO of Canaccord Genuity Australia. \"The cultural alignment between the two teams has been clear from our first interaction and has been the foundation for all discussions. We are delighted to welcome Patersons' outstanding team of professionals to our firm and we look forward to working together to deliver enhanced services and opportunities for our combined client base.\"\nMichael Manford, Executive Chairman of Patersons said: \"The rationale...