The acquisiton is expected to be highly complementary to Canaccord, which is a growth equity-focused investment bank and wealth manager overseeing C$62 billion in assets. Wealth management: what will be its future in Europe? !�na�`� data: { email : email, action : 'add_to_mail'}, If you are looking to give feedback on our new site, please send it along to, To view this site properly, enable cookies in your browser. Louie Douvis. 2 0 obj Canaccord is paying $23-million to acquire Patersons Securities Ltd. in a deal that is scheduled to close on Tuesday. United Overseas Bank partners with Robeco to launch Sustainability Academy, Close to half of experts think sustainable investments bring higher returns, Barclays expands its presence in South Africa, ABN Amro private banking rebounds in Q3 2020, Merchant picks stake in $1.2bn RIA Baldwin Brothers, Amundi completes integration of Goldman Sachs’ Luxembourg funds, Voya IM acquires G2 technology to boost equity investment business. Follow live updates here. Patersons directors and senior management, representing 60% of shareholders, have committed to vote in favour of the deal. This translation has been automatically generated and has not been verified for accuracy. Canaccord Genuity Financial Limited AFSL No. Meanwhile, the Michael Manford-led Patersons is best known locally for its coverage of small and mid cap resources companies and microcaps more generally, and has more than 50,000 client accounts. Patersons Securities Limited Financial Services Perth, WA 2,561 followers We've moved! 351 King Street East, Suite 1600, Toronto, ON Canada, M5A 0N1, Just $1.99 per week for the first 24 weeks, var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o? Are you looking for a Compliance Solution? endobj Follow our new Canaccord Genuity Australia page to continue receiving updates. Health Minister says Australia has secured crucial logistics for Pfizer vaccine. Your time is valuable. “We are open to other acquisition opportunities in Australia, but we expect most of our growth will be organic, and come from recruiting,” he said. If you've never received login details for our client portal, you will need to contact your Adviser to request them. Our team work with you to create a tailored roadmap for your financial future, based on a thorough understanding of your unique day-to-day financial needs and long term aspirations. 3 0 obj *4.���!���n����`A���I H�L�L Canaccord Genuity is a great place for ambitious, intelligent people to do their best work. We hope to have this fixed soon. From that baseline, your Wealth Adviser can design a personally tailored portfolio with a thoughtful mix of investments diversified across, and within, asset classes. Canaccord Genuity Group has agreed to buy Australia-based Patersons Securities in a cash deal worth A$25m ($17.3m). endobj I'm a print subscriber, link to my account, Read more about following topics and authors. “This transaction builds upon the work that our Australian partners have done to make Canaccord Genuity The transaction will be executed through Canaccord Financial Group (Australia), the Australian arm of Canaccord Genuity. 4 0 obj Contact Complii for more information × Canadian-based Canaccord Genuity Group Inc will acquire Australian second-tier stockbroker Patersons Securities Ltd in a A$25 million deal to create a “financial powerhouse” specialising in capital markets, broking and wealth management. endobj Report this profile; About. Ernst & Young summed up his recommendations and the government’s response by saying: “They herald sweeping changes to current operating models in the financial services market – reshaping the financial advice, life insurance and superannuation sectors.”. Employee-owned Patersons, founded in 1903, was open to a takeover that gave the firm increased international heft. } <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Audio for this article is not available at this time. }, 3000); %���� It is understood Canaccord has agreed terms to buy Patersons Securities - a Perth based wealth management and stockbroking company which was founded in … Canaccord Genuity Group has agreed to buy Australia-based Patersons Securities in a cash deal worth A$25m ($17.3m). $( 'form.widget_wysija' ).submit(function(e){ 239 052 ABN 69 008 896 311 //alert(email); Full Disclaimer. This approach can help protect you from short-term swings in any one asset class and helps build your wealth over the long term. Patersons offers a range of services covering wealth management and capital markets. Agreement substantially increases scale of the Company’s wealth management business in the region and establishes a significant platform for expansion in Australia © Copyright 2020 Verdict, a trading division of Progressive Digital Media Ltd. Canaccord Genuity to acquire Patersons Securities in A$25m deal, June 11, 2019 (Last Updated June 11th, 2019 09:39), Channel Capital brings ownership back to management with backing from Kudu, Credit Suisse fined in Hong Kong for electronic trading lapses, First Merchants to expand reach in home market with Hoosier Trust purchase, Nubank moving into new territory with investments, Diversity and inclusion strong in banking, but work needed, ONE swiss bank brokers deal to purchase client portfolio of Falcon Private Bank, Cost pressure forcing continued financial adviser consolidation in the UK, Robo-advisers must continue to develop for longevity, The FinCEN leaks are unlikely to dent the US’ pre-eminence as an offshore centre. Canaccord Genuity Group Inc. Reports Second Quarter Fiscal 2021 Results Published: Nov. 6, 2020 at 7:43 p.m. Patersons offers a range of services covering wealth management and capital markets. Learn more about our Wealth Management Approach, Learn more about super and retirement planning, Learn more about legacy and estate planning. S���9�B`6=��i9��>̦�>z�v���Y�b*'��|�2>y9Փ���������o�����7�D/��/�]�M}�y^��w^�� ��D����k" ��F��|Ȏ�χw��[���K �~~�4}s�t�~*�3����.�X��ribc�����d?u��`���*���"7�6*�����/=;��&���ٛ)+h � hy��Oߊf���x֭۷/aP�� �w�J^M���������J������~��E�yg�1! San Francisco-based satellite company Spire Global has brought a select group of Aussie funds into its initial public offering orbit. As part of the transaction, the Canadian firm plans to roll out a retention program in which Patersons employees are awarded approximately $3-million in Canaccord shares that vest over up to five years. Canaccord Genuity Patersons Limited. CANACCORD GENUITY GROUP INC. From Canaccord’s point of view, Mr. Hayne’s review highlighted the value of independent advisers and the conflicts of interest that can come when banks with multiple lines of business try to serve wealth-management clients. © Copyright 2020 The Globe and Mail Inc. All rights reserved. In September last year, it had advisory firm EM Advisory map out the landscape to help identify potential targets. Canaccord Genuity Group Inc. The Toronto-based brokerage house, which has … ET ... reflecting contributions from the acquisition of Patersons Securities … Also available in French and Mandarin. your situation, goals and tolerance to risk, opportunities to add value to your financial planning, your strategy as your circumstances change. In Australia, the wealth-management business will be called CG Patersons. Some information in it may no longer be current. type:"POST", Patersons offers a range of services covering wealth management and capital markets. Consolidation is one way to seek to overcome the pressures. <> Participant of ASX Group; Participant of NSX; Participant of Chi-X Australia; Stockbrokers and Financial Advisers Association Principal Member. var regex = /^([a-zA-Z0-9_.+-])+\@(([a-zA-Z0-9-])+\. We aim to create a safe and valuable space for discussion and debate.
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