Canaccord Genuity selling U.S. wholesale market making business
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Hey there, time traveller!
This article was published 01/04/2025 (529 days ago), so information in it may no longer be current.
TORONTO – Canaccord Genuity Group Inc. has signed a deal to sell its U.S. wholesale market making business to Cantor as part of a plan to sharpen the focus of its U.S. capital markets operations.
Financial terms of the deal were not immediately available.
Canaccord Genuity says the U.S. wholesale market making business operated adjacent to its equity-based institutional sales and trading, but outside its strategic core.
Chief executive Jeff Barlow says the deal streamlines the company’s U.S. business around its core strengths, anchored in advisory and capital raising capabilities across high-growth sectors.
The deal is subject to customary closing conditions and is expected in the first half of the company’s 2026 financial year.
The companies say they will work to ensure a seamless transition for both clients and employees.
This report by The Canadian Press was first published April 1, 2025.
Companies in this story: (TSX:CF)