Feb 1, 2023
Canaccord Genuity buying Mercer's Canadian private wealth business
The Canadian Press
Canaccord is competing with very large players, it could be beneficial to go private: Paul Harris
VIDEO SIGN OUT
Canaccord Genuity Group Inc. has signed a deal to acquire the Canadian private wealth business of Mercer Global Investments Canada Ltd.
Financial terms of the agreement were not immediately available.
The acquisition is expected to add about $1.5 billion to Canaccord Genuity Wealth Management's total client assets.
The deal is expected to close within the next three months, subject to closing conditions, including regulatory approval.
Canaccord Genuity's wealth management operations provides services to individual investors, private clients, charities and intermediaries.
The company is expected to release its third-quarter results after the close of markets on Feb. 8.
This report by The Canadian Press was first published Feb. 1, 2023.
