Edge Rewrite
everything Source code View original
// HTMLRewriter · presentation

This page was redesigned at the edge.

Cloudflare fetched the original article and streamed it through HTMLRewriter to apply an entirely new visual system without rebuilding the source page.

// request.cf · coarse context

A page that knows where it met you.

Only coarse request metadata is shown. This demo does not display or persist visitor IP addresses.

Country
US
Cloudflare location
CMH
Connection
HTTP/2
Language
Not provided

Ray ID: a2453e3e2bdbdfff

Jump to content

Canaccord Genuity

Edit links
From Wikipedia, the free encyclopedia
(Redirected from Canaccord)
Canaccord Genuity Group Inc.
TypePublic
TSX: CF
IndustryFinancial services
Founded1950; 76 years ago (1950)[1]
FounderPeter Brown[2]
Headquarters
Vancouver
,
Canada
Area served
North America, UK & Europe, Asia and Australia[3]
Key people
Daniel Daviau (CEO)
ServicesInvestment banking
Private banking
Wealth management
RevenueIncrease C$1.8 billion (2025)[4]
Decrease C$25 million (2025)[4]
AUMIncrease C$120.4 billion (2025)[4]
Total assetsIncrease C$6.7 billion (2025)[4]
Total equityDecrease C$1.0 billion (2025)[4]
Number of employees
2,925 (2025)[4]
Divisions
  • Wealth Management
  • Global Capital Markets
Websitecgf.com

Canaccord Genuity Group Inc. is an investment banking and financial services company that specializes in wealth management and brokerage in capital markets. It is one of the largest independent investment dealers in Canada.[5] 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, Europe, Asia, and Australia.[6][7]

Canaccord Genuity provides mergers and acquisitions, corporate finance, restructuring, debt advisory, and strategic advice for corporate, government, and private-equity clients. The firm's practice areas include aerospace and defense, agriculture, clean technology 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

[edit]

1950 Hemsworth, Turton & Co. Founded

[edit]

The company was established in 1950 as Hemsworth, Turton & Co., a Western Canadian venture capital firm.[8]

IPO, M&A, and 2009 rebranding

[edit]

In 2004, Canaccord Capital went public on the Toronto Stock Exchange with an IPO price of $10.25 and an estimated valuation of $70 million.[1]

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.[9]

In 2009, Canaccord Capital was renamed Canaccord Financial. Canaccord Financial acquired Genuity Capital Markets in 2010,[10] in a cash and share deal worth about $286 million.[11] Genuity Capital Markets, founded in 2005, had 135 employees with offices in Canada and the U.S.[11]

UK Expansion through Acquisition

[edit]

In 2012, Canaccord Financial acquired Collins Stewart Hawkpoint for $400m acquiring "an independent financial advisory firm with research, trading and wealth management operations."[12][13][14]

Canaccord Tower in downtown Vancouver

In 2012, Canaccord Financial acquired Eden Financial, a London-based wealth management business for private client investment management.[15]

2013 Canaccord Financial rebranded its global wealth management division to Canaccord Genuity Wealth Management.[16][17][18] and acquired Hargreave Hale Ltd the next year.[19] It acquired Petsky Prunier[20] and Patersons Securities Limited in 2019.[21]

In 2019 Canaccord Genuity acquired Petsky Prunier.[22]

In 2021 Canaccord Genuity acquired the investment management business of Adam & Company[23] from the Royal Bank of Scotland for $94.9 million.

In 2021 Canaccord Genuity acquired Sawaya Partners[24] a New York City-based boutique investment bank specializing in consumer and retail. In 2022, Canaccord Genuity acquired Punter Southall Wealth Limited [25]

In 2026 Canaccord Genuity acquired CRC-IB.[26]

Business divisions

[edit]

The two units of Canaccord Genuity are wealth management and global capital markets, serving corporate and institutional clients.[1]

Canaccord Genuity Wealth Management

[edit]

Canaccord Genuity Wealth Management's total client assets amounted to $96.2 billion in Canada, the UK & Europe, and Australia on March 31, 2023.[27] In April 2016, Canaccord Genuity Wealth Management announced a strategic partnership with Credit Suisse Asset Management (CSAM).[28]

Transactions History

[edit]

Transactions have included advising Amaya Gaming Group in its $4.9 billion acquisition of PokerStars 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's $6.1 billion sale to Glencore,[29] and advising the $2.2 billion cross-border sale of Daylight Energy to Sinopec, a unit of China Petrochemical Corp.[30] It has also advised on GLENTEL's $670 million sale to Bell Canada in 2014, and the sale of Canada Goose to Bain Capital. In 2012, it advised on Extorre Gold Mines' $404 million sale to Yamana Gold.[31]

In 2013, the Canaccord Genuity team put together a consortium of major investors, including Schroders and Threadneedle Investments, in participating in a takeover bid proposal for 316 bank branches of the Royal Bank of Scotland (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 Private Equity and LBO France to General Electric, growing the GE Power Conversion business.[32] In the same year, Canaccord Genuity also advised the Bank of Ireland 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. In 2025, Canaccord advised dentalcorp on its C$3.2 billion acquisition by American private equity firm GTCR.[33]

Leadership

[edit]

Dan Daviau is CEO and chairman since June 2024.[34]

Previously, Canaccord CEO Paul Reynolds died after falling ill during a triathlon[35]Canadian financial services firm Canaccord Genuity said Chief Executive Paul Reynolds had died, three days after becoming ill while competing in a triathlon in Hawaii. The 52-year old, who has led the company since August 2007, will be replaced by Chairman David Kassie, Canaccord said in a statement on Thursday. Reynolds was competing in the Lavaman Waikoloa Triathlon on Sunday when he got into trouble during the swim portion of the race, the Globe and Mail said, citing a local news report. Canaccord said on Monday that Reynolds had been hospitalized following a medical emergency and that Kassie would be interim CEO while Reynolds recovered.

Daviau and Kassie joined Canaccord, which was founded in 1950, when Canaccord merged with their firm, Genuity, in 2010.[36] The board overhaul will see the departure of several key members. Former executive David Kassie will step down as chair, a move announced last year. Additionally, former Ontario Finance Minister Rod Phillips, along with directors Jo-Anne O’Connor and Amy Freedman, will not seek reelection. Despite these changes, Phillips will remain with the firm as vice-chair of its Canadian broker-dealer. Joining the restructured board are Shannon Eusey and Cindy Tripp. Eusey, with extensive experience in wealth management, and Tripp, a capital markets expert, are expected to bring valuable insights and expertise. Their appointments are seen as a strategic move to strengthen the board’s capabilities in these critical areas.[37]

Abandoned $1.1-billion buyout

[edit]

A management group at Canaccord Genuity Group Inc. that included the chief executive and chairman has given up a bid to privatize the independent investment dealer after failing to win enough shares and regulatory approval to satisfy their $1.1-billion offer. The $11.25 a share bid was initially contested by a special committee of the board, which contended in February that Canaccord was being significantly undervalued by the management group.[38]

The special committee obtained an independent valuation from RBC Capital Markets that valued Canaccord between $12.75 to $15.75 a share, or as much as 40 per cent more than the offer. However, those board members resigned citing an “irreparable” relationship with the management group that included chief executive Dan Daviau and chairman David Kassie. The special committee was replaced by new members more supportive of the management-led privatization bid.

In May, Canaccord said the bid, set to expire June 13, had been snagged by a regulatory issue with one of the firm’s foreign subsidiaries. On June 5, Canaccord’s board, after consulting with the special committee and the company’s lawyers, recommended that shareholders reject the privatization bid and not tender their shares because the conditions of the offer were not expected to be satisfied. Then, on June 14, it was announced that the bid was expiring without regulatory approval or sufficient support, and it was not being renewed.

Article content The company and the management group have now entered into an agreement that includes a two-year standstill with support commitments from certain members of management to vote in favour of board-supported director nominees.

[edit]

On March 6, 2026, the United States Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) assessed an $80,000,000 civil money penalty against Canaccord Genuity LLC, the U.S. Broker / Dealer of Canaccord Genuity, "for willful violations of the Bank Secrecy Act (BSA), the primary U.S. anti-money laundering and countering the financing of terrorism law that safeguards the financial system from illicit use."[39] This is the largest penalty ever imposed against a broker-dealer for violating the BSA.[40][41]

At the same time, "The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 (“Exchange Act”) against Canaccord Genuity LLC".[42] Additionally, "Canaccord Genuity LLC has consented to a census and a 20 million dollar fine following an investigation into systemic deficiencies within its anti-money laundering protocols and supervisory frameworks. The Financial Industry Regulatory Authority (FINRA) determined that the firm failed to maintain a program reasonably designed to achieve compliance with the Bank Secrecy Act over a period spanning nearly a decade."[43]

According to The Globe and Mail, "Canaccord’s U.S. division conducted trades for scammers and a fixer for Russian oligarchs,"[44][45] and as a result, Canaccord's U.S. CEO resigned.[46]

In 2025, Canaccord Genuity received continued membership with FINRA notwithstanding its statutory disqualification.[47]

Canaccord had previously been fined for supervisory failures with Private Placement Investments[48] and for failing to supervise off channel communications.[49]

References

[edit]
  1. 1 2 3 Stueck, Wendy (22 April 2018). "Acquisitive Canaccord on prowl for new brokers". Vancouver: The Globe and Mail. Globe and Mail. Retrieved 13 September 2019.
  2. ↑ Alexander, Doug (28 March 2012). "Canaccord founder Peter Brown to step down". Financial Post. Postmedia Network Inc. Retrieved 13 September 2019.
  3. ↑ Driven by Partnership Fiscal 2023 Annual Report
  4. 1 2 3 4 5 6 "Canaccord Genuity Fiscal 2025 Annual Report" (PDF).
  5. ↑ Humphreys, Tommy (19 April 2013). "Canaccord Financial CEO Paul Reynolds on the future of his firm and Canada's natural resources sector". Canada: CEO.CA. CEO.CA. Retrieved 27 March 2015.
  6. ↑ "Bivinteractive". Bivinteractive.com. Archived from the original on 2012-02-26. Retrieved 2015-03-27.
  7. ↑ "Canaccord Genuity Inc.: Private Company Information - Businessweek". Businessweek.com. Archived from the original on October 14, 2008. Retrieved 2015-03-27.
  8. ↑ "Acquisitive Canaccord on prowl for new brokers". The Globe and Mail. 8 August 2005. Retrieved 2016-01-28.
  9. ↑ "Canaccord closes acquisition of Adams Harkness". Investment Executive. 2006-01-03. Retrieved 2020-09-22.
  10. ↑ Rocha, Euan (2010-03-04). "Canaccord to acquire Genuity, expand advisory arm". Reuters. Retrieved 2020-10-07.
  11. 1 2 Lam, Eric (4 March 2010). "Canaccord Financial to buy Genuity for $286 mln". Toronto: National Post. Postmedia Network Inc. Retrieved 27 March 2015.{{cite news}}: CS1 maint: deprecated archival service (link)
  12. ↑ Shecter, Barbara (15 December 2011). "Canaccord clinches U.K. expansion with $400-million deal". Canada: Financial Post. Postmedia Network Inc. Retrieved 13 September 2019.
  13. ↑ Dunkley, Jamie (15 December 2011). "Collins Stewart takeover points way to the future for broking". London: The Telegraph. Telegraph Media Group Limited. Retrieved 13 September 2019.
  14. ↑ "Canaccord buys UK based financial service firm Collins Stewart Hawkpoint". Investment Executive. 2011-12-15. Retrieved 2020-10-07.
  15. ↑ Shecter, Barbara; Critchley, Barry (24 September 2012). "Canaccord Financial to close 16 branches". Canada: Financial Post. Postmedia Network Inc. Retrieved 13 September 2019.
  16. ↑ "Canaccord rebrands wealth management". Investment Executive. 2013-05-01. Retrieved 2020-10-07.
  17. ↑ Trudeau, Michael (1 May 2013). "Collins Stewart, Eden rebranded under Canaccord umbrella". No. Companies. United Kingdom: FTAdviser.com. Nikkei. Retrieved 19 September 2019.
  18. ↑ "Canaccord Financial renamed Canaccord Genuity Group". Investment Executive. 2013-10-01. Retrieved 2020-10-07.
  19. ↑ Murphy, Hannah (2017-07-05). "Canaccord Genuity beefs up in wealth management". Financial Times. Retrieved 2020-10-07.
  20. ↑ "February M&A buyers: Canaccord Genuity, Cisco, Platinum Equity". Mergers & Acquisitions. 2019-03-11. Retrieved 2020-10-07.
  21. ↑ "Canaccord Genuity, Patersons Securities confirm merger talks". Australian Financial Review. 2019-06-10. Retrieved 2020-10-07.
  22. ↑ Bhowmik, Satarupa (2019-02-14). "Canaccord Genuity Group takes over advisory firm Petsky Prunier". Private Banker International. Archived from the original on 2026-02-19. Retrieved 2026-07-23.
  23. ↑ "Canaccord Genuity UK acquires Adam & Company for £54 million". Insider UK. 2021-04-15. Retrieved 2022-07-07.
  24. ↑ "Canaccord expanding U.S. capital markets biz with Sawaya buy". Investment Executive. 2021-12-21. Retrieved 2022-07-07.
  25. ↑ "Adam & Co strengthened by parent's latest acquisition". Insider UK. 2022-06-02. Retrieved 2022-07-07.
  26. ↑ eileen (2026-01-14). "Canaccord Genuity Group Inc. Bolsters Its Capital Markets Advisory Capability With Acquisition of Leading Advisor to the Renewable Energy Sector". CRC-IB. Retrieved 2026-07-23.
  27. ↑ "CANACCORD GENUITY GROUP INC. REPORTS FOURTH QUARTER AND FISCAL 2023 RESULTS". Canaccord Genuity. 2023-06-16. Retrieved 2023-07-05.
  28. ↑ "Canaccord Genuity Wealth Management (Canada) and Credit Suisse Asset Management announce an exclusive strategic partnership". Retrieved April 4, 2016.
  29. ↑ Hasselback, Drew (31 January 2013). "Viterra's sale to Glencore involved a lot of moving parts". Canada: Financial Post. Postmedia Network Inc. Retrieved 27 March 2015.
  30. ↑ Krauskopf, Lewis; Xu, Wan (10 October 2011). "Sinopec to buy Canada's Daylight Energy for $2.2-billion". No. Energy and Resources. New York, N.Y., United States: The Globe and Mail. Globe and Mail Inc. Retrieved 27 March 2015.
  31. ↑ Hill, Liezel (18 June 2012). "Yamana Gold to Buy Extorre for $404 Million to Add Mine". No. Deals. Bloomberg News. Bloomberg L.P. Retrieved 6 May 2015.
  32. ↑ Layne, Rachel (29 March 2011). "General Electric Agrees to Buy Converteam for $3.2 Billion". No. Deals. Bloomberg News. Bloomberg L.P. Retrieved 27 March 2015.
  33. ↑ Rocha, Euan (2010-03-04). "Canaccord to acquire Genuity, expand advisory arm". Reuters. Retrieved 2020-09-30.
  34. ↑ "Canaccord to Appoint CEO Dan Daviau as Chair in Board Overhaul". www.bloomberg.com. Retrieved 2024-06-17.
  35. ↑ "Canaccord CEO Reynolds dies after falling ill during a triathlon". CNBC. 2015-04-02. Retrieved 2026-07-23.
  36. ↑ "Canaccord management abandons $1.1-billion buyout bid". financialpost. Archived from the original on 2023-06-14. Retrieved 2026-07-23.
  37. ↑ "CEO Dan Daviau to Lead Canaccord's Board in Major Overhaul". Juniorstocks.com I Stock Market News. Retrieved 2026-07-23.
  38. ↑ "Canaccord management abandons $1.1-billion buyout bid". financialpost. Archived from the original on 2023-06-14. Retrieved 2026-07-23.
  39. ↑ "FinCEN Assesses Historic $80 Million Penalty Against Canaccord Genuity LLC for Securities Fraud-Related Bank Secrecy Act Violations | FinCEN.gov". www.fincen.gov. 2026-03-06. Retrieved 2026-07-23.
  40. ↑ "Consent Order Imposing Civil Money Penalty" (PDF). fincen.gov.
  41. ↑ Staff (2026-06-12). "Canaccord Genuity Hit With Record $120M Penalty For Decade-long AML Failures". Retrieved 2026-07-23.
  42. ↑ "Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Security Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order" (PDF). sec.gov.
  43. ↑ "FINRA Penalizes Canaccord Genuity 20M$ for AML Failures - Fincrime Central". 2026-03-08. Retrieved 2026-07-23.
  44. ↑ "Canaccord's U.S. division conducted trades for scammers and a fixer for Russian oligarchs, documents show". The Globe and Mail. 2026-03-12. Retrieved 2026-07-23.
  45. ↑ "Business Brief: How Canaccord 'willfully' broke the law". The Globe and Mail. 2026-03-12. Retrieved 2026-07-23.
  46. ↑ "Canaccord reworks U.S. leadership in wake of regulatory settlement". The Globe and Mail. 2026-03-18. Retrieved 2026-07-23.
  47. ↑ "Notice Pursuant to Rule 19h-1 Securities Echange Act of 1934" (PDF). finra.org. March 25, 2025.
  48. ↑ "Canaccord Genuity Wealth Censured and Fined $200,000". The White Law Group. 2022-09-12. Retrieved 2026-07-23.
  49. ↑ "No good deed goes unpunished: FINRA punishes firm for failing to supervise use of approved off-channel communications". Eversheds Sutherland. August 13, 2025.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Canaccord_Genuity&oldid=1365698693"