Financial Results
Assets Under Management Rise At Canaccord's European Wealth Arm
The firm released its results for the three-month period until 30 June.
Canaccord
Genuity Wealth Management (UK and Europe) reported an
75.8 per cent rise in assets under management for the
three-month period ending 30 June 2018. AuM came in
at £26.9 billion ($35.1 billion), compared with
£15.3 billion at 30 June 2017.
It recorded net income of £7.7 million before taxes for the
period, an increase of £2.8 million from the same time last
year. The wealth arm logged a rise in net revenue, from £15.4
billion during the period last year to £37.5 million
for the three months in 2018.
Globally, Canaccord Genuity Wealth Management generated C$112.6
million ($86.4 million) in revenue in the quarter.
“We continue to see strong growth in our business," said David
Esfandi, chief executive of Canaccord Genuity Wealth
Management in the UK and Europe. "Client focus continues to
drive everything we do, and I believe our continued emphasis on
developing niche propositions ‐ such as our recently launched ESG
Portfolio Service and smaller‐company investing – along with our
focus on developing our people and being an employer of choice,
are helping to cater for emerging and changing client needs and
have been a key part of our growth."
