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CANACCORD GENUITY GROUP INC. THROUGH ITS WEALTH MANAGEMENT BUSINESS IN THE UK, ANNOUNCES ACQUISITION OF CANTAB ASSET MANAGEMENT LTD.
CANACCORD GENUITY GROUP INC. THROUGH ITS WEALTH MANAGEMENT BUSINESS IN THE UK, ANNOUNCES ACQUISIT...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n \n \n \n CANACCORD GENUITY GROUP INC. THROUGH ITS WEALTH MANAGEMENT BUSINESS IN THE UK, ANNOUNCES ACQUISITION OF CANTAB ASSET MANAGEMENT LTD.\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n May 31, 2024\n \n \n /CNW/ - Canaccord Genuity Group Inc. (TSX: CF) (the \"Company\") is pleased to announce that through its wealth management business in the UK and Crown Dependencies (\"CGWM UK\"), it has entered into a share purchase agreement to acquire Cantab Asset Management Ltd. (\"Cantab\").\n \n \n The transaction further consolidates CGWM's position as a top-10 wealth manager by assets in the UK and strengthens its financial planning capacity and reach.\n \n \n Headquartered in\n \n Cambridge, UK\n \n , Cantab is a chartered, independent financial planning business with approximately £900 million in Assets Under Management (\"AUM\") and a 38-year track record of serving high-net-worth private clients and charities. CGWM UK has been selected as a well-suited buyer to facilitate future growth and support for the business.\n \n \n Upon completion of the acquisition, investment professionals and support staff of Cantab will continue in their existing roles and will be fully supported in directly managing their client relationships. Clients will continue to receive the high-quality service they are accustomed to with no planned changes to their relationship with existing Financial Planners or client support team. To support the transition,\n \n David Saunderson\n \n will remain Chief Executive Officer and member of the Cantab board.\n \n \n \n David Esfandi\n \n , Chief Executive Officer of CGWM UK said: \"We are delighted to establish a presence in\n \n Cambridge\n \n with a highly respected team of professionals that has achieved an extraordinary track record of providing top quality financial planning advice and services to high-net-worth clients. We very much look forward to supporting the continued growth of the business as we work to provide the best possible outcomes for our combin...