Canaccord Genuity Group Inc. is an

investment bank Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

ing and

financial service Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

s company that specializes in

wealth management Wealth management (WM) or wealth management advisory (WMA) is an investment advisory service that provides financial management and wealth advisory services to a wide array of clients ranging from affluent to high-net-worth (HNW) and ultra-hi ...

and

brokerage A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neith ...

capital markets A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers t ...

. It is the largest independent investment dealer in Canada. The firm focuses on growth companies, with operations in 10 countries. Canaccord Genuity, the international capital markets division, is based in Canada, with offices in the US, the UK, France, Germany, Ireland, Hong Kong, China, Singapore, Dubai, Australia, Barbados, and The Bahamas. Canaccord Genuity provides

mergers and acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorpt ...

corporate finance Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and analy ...

restructuring Restructuring or Reframing is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. ...

, debt advisory, and strategic advice for corporate, government, and private-equity clients. The firm's practice areas include aerospace and defense, agriculture,

clean technology Clean technology, also called cleantech or climate tech, is any process, product, or service that reduces negative environmental impacts through significant Efficient energy use, energy efficiency improvements, the sustainable use of resources, o ...

and sustainability, consumer and retail, energy, financials, health care and life sciences, infrastructure, leisure, media and telecommunications, metals and mining, real estate and hospitality, technology, transportation, and private equity.

History

1950 Hemsworth, Turton & Co. Founded

The company was established in 1950 as Hemsworth, Turton & Co., a Western Canadian venture capital firm.

IPO, M&A, and 2009 rebranding

In 2004, Canaccord Capital went public on the Toronto Stock Exchange with an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

price of $10.25 and an estimated valuation of $70 million. In 2006, Canaccord Capital acquired Adams, Harkness & Hill Financial Group Inc., a Boston-based broker-dealer. The firm's global capital markets division was rebranded as Canaccord Adams. In 2009, Canaccord Capital was renamed Canaccord Financial. Canaccord Financial acquired Genuity Capital Markets in 2010, in a cash and share deal worth about $286 million. Genuity Capital Markets, founded in 2005, had 135 employees with offices in Canada and the U.S.

UK Expansion through Acquisition

In 2012, Canaccord Financial acquired Collins Stewart Hawkpoint for $400m acquiring "an independent financial advisory firm with research, trading and wealth management operations." Canaccord Tower

In 2012, Canaccord Financial acquired Eden Financial, a London-based wealth management business for private client investment management. 2013 Canaccord Financial rebranded its global wealth management division to Canaccord Genuity Wealth Management. and acquired Hargreave Hale Ltd the next year. It acquired Petsky Prunier and Patersons Securities Limited in 2019. In 2021 Canaccord Genuity acquired the investment management business of Adam & Company from the Royal Bank of Scotland for $94.9 million. In 2021 Canaccord Genuity acquired Sawaya Partners a New York City-based boutique investment bank specializing in consumer and retail. In 2022, Canaccord Genuity acquired Punter Southall Wealth Limited

Business divisions

The two units of Canaccord Genuity are wealth management and global capital markets, serving corporate and institutional clients.

Canaccord Genuity Wealth Management

Canaccord Genuity Wealth Management's total client assets amounted to $96.2 billion in Canada, the UK & Europe, and Australia on March 31, 2023. In April 2016, Canaccord Genuity Wealth Management announced a strategic partnership with Credit Suisse Asset Management (CSAM).

Transactions History

Transactions have included advising Amaya Gaming Group in its $4.9 billion acquisition of

PokerStars PokerStars is an online poker cardroom. It is the largest real money online poker site in the world, controlling over two-thirds of the total online poker market, and can be accessed through downloadable poker clients for Windows, macOS, Androi ...

and Full Tilt Poker, advising Yamana Gold's $3.9 billion joint acquisition with Agnico Eagle of Osisko Mining, advising Primaris REIT's hostile defense and $5.0 billion sale to H&R REIT and KingSett Capital led consortium, advising

Viterra Viterra Limited is a Canadian grain handling business, that began as the nation's largest grain handler, with its historic formative roots in prairie grain-handling cooperatives, among them the Saskatchewan Wheat Pool. Viterra Inc grew into a g ...

's $6.1 billion sale to

Glencore Glencore plc is an Anglo-Swiss Multinational corporation, multinational commodity trading and mining company with headquarters in Baar, Switzerland, Baar, Switzerland. Glencore's oil and gas headquarters are in London, London, England as well a ...

, and advising the $2.2 billion cross-border sale of Daylight Energy to

Sinopec China Petroleum and Chemical Corporation, or Sinopec Group, is a Chinese oil and gas enterprise based in Chaoyang District, Beijing. The SASAC administers China Petroleum and Chemical Corporation for the benefit of State Council of the ...

, a unit of China Petrochemical Corp. It has also advised on GLENTEL's $670 million sale to

Bell Canada Bell Canada (commonly referred to as Bell) is a Canadian telecommunications company headquartered at 1 Carrefour Alexander-Graham-Bell in the borough of Verdun, Quebec, in Canada. It is an ILEC (incumbent local exchange carrier) in the province ...

in 2014, and the sale of

Canada Goose The Canada goose (''Branta canadensis''), sometimes called Canadian goose, is a large species of goose with a black head and neck, white cheeks, white under its chin, and a brown body. It is native to the arctic and temperate regions of North A ...

Bain Capital Bain Capital, LP is an American Investment company, private investment firm based in Boston, Massachusetts, Boston, Massachusetts, with around $185 billion of assets under management. It specializes in private equity, venture capital, credit, p ...

. In 2012, it advised on Extorre Gold Mines' $404 million sale to Yamana Gold. In 2013, the Canaccord Genuity team put together a consortium of major investors, including

Schroders Schroders plc is a British multinational asset management company headquartered in London, England. Founded in 1804, it employs over 6,000 people worldwide in 38 locations around Europe, America, Asia, Africa and the Middle East. It is traded on ...

and Threadneedle Investments, in participating in a takeover bid proposal for 316 bank branches of the

Royal Bank of Scotland The Royal Bank of Scotland Public Limited Company () is a major retail banking, retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest and Ulster Bank. The Royal Bank of Sco ...

(RBS). Two buyout firms, Apollo Management and JC Flowers, also submitted a joint offer. In 2011, the firm advised the $3.2 billion sale of Converteam from

Barclays Barclays PLC (, occasionally ) is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services ...

Private Equity and LBO France to

General Electric General Electric Company (GE) was an American Multinational corporation, multinational Conglomerate (company), conglomerate founded in 1892, incorporated in the New York (state), state of New York and headquartered in Boston. Over the year ...

, growing the GE Power Conversion business. In the same year, Canaccord Genuity also advised the

Bank of Ireland Bank of Ireland Group plc () is a commercial bank operation in Ireland and one of the traditional Big Four Irish banks. Historically the premier banking organisation in Ireland, the bank occupies a unique position in Irish banking history. At ...

on the disposal of a c.£1.3bn UK commercial real-estate loan book to California-based Kennedy Wilson and institutional partners for consideration of c.£1.07bn, over 80% of par value despite both the poor UK commercial real estate and lending market conditions at the time. As for restructuring mandates, Canaccord Genuity advised Yellow Media on its $2.7 billion debt recapitalization in 2012.

Leadership

Dan Daviau is CEO and chairman since June 2024.

References

{{Investment banks Companies listed on the Toronto Stock Exchange Banks of Canada Banks established in 1950 Financial services companies established in 1950 Companies based in Vancouver Investment management companies of Canada