Canaccord Genuity Group Inc. has signed an agreement to acquire the Canadian private wealth management business of Mercer Global Investments Canada Ltd. Financial terms of the deal were not immediately available.
Canaccord Genuity Group Inc. of Vancouver has signed an agreement to acquire the Canadian private wealth management business of Mercer Global Investments Canada Ltd.
Financial terms of the deal were not immediately available.
The acquisition is expected to add approximately $1.5 billion to Canaccord Genuity Wealth Management’s total client assets.
The agreement is expected to close within the next three months, subject to closing conditions, including regulatory approval.
Canaccord Genuity’s wealth management business provides services to individual investors, private clients, charities and intermediaries.
The company is expected to report third-quarter results after markets close on Feb. 8.
This report from The Canadian Press was first published on February 1, 2023.
Companies in this story: (TSX:CF)
The Canadian Press
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