Sale of U.S. market making business reinforces alignment of Canaccord Genuity’s U.S. business with its global capital markets platform
TORONTO, April 1, 2025 /CNW/ – Canaccord Genuity Group Inc. (TSX: CF) (the “Company”) today announced a key step in the continued evolution of its strategy related to its U.S. capital markets business, Canaccord Genuity LLC. The Company has entered into a definitive agreement to sell its U.S. wholesale market making business (the “Business”) to Cantor, further strengthening its focus on its core global advisory- and ECM-led investment banking platform.
The transaction allows the Company to streamline its U.S. capital markets business and direct capital and resources toward its high-performing, globally integrated M&A advisory and ECM-driven investment banking and capital markets capabilities. The U.S. wholesale market making business, which primarily specializes in OTC wholesale market making, including global equities and ADRs, has operated adjacent to the Company’s equity-based institutional sales and trading, but has remained outside the strategic core.
“This transaction sharpens our focus and allows us to streamline our U.S. business around our core strengths, anchored in advisory and capital raising capabilities across high-growth sectors,” said Jeff Barlow, CEO of Canaccord Genuity LLC. “We see a great opportunity for the wholesale market making business with Cantor and we are confident that we will deliver a seamless transition for the team and clients.”
“We are committed to strategically growing our global equities franchise and look forward to welcoming this well-established, experienced team of professionals to our firm,” said Pascal Bandelier, Co-CEO of Cantor and Global Head of Equities. “We plan to scale this business to ensure our clients have access to a more diversified range of products, helping them create value in all market conditions and across a growing global footprint.”
Canaccord Genuity has established itself as a market leader in M&A advisory and equity capital markets across the technology, healthcare, sustainability, and consumer sectors. The Company’s global platform is supported by integrated research, sales and trading, with a deeply entrenched presence in each of its core markets.
Completion is subject to customary closing conditions and is expected in the first half of the Company’s 2026 fiscal year. Canaccord Genuity and Cantor will work closely to ensure a seamless transition for both clients and employees.
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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