Canaccord Genuity Group has announced that through its wealth management business in the UK & Crown Dependencies, it has completed its purchase of Brooks Macdonald Asset Management (International).
Brooks Macdonald Asset Management was previously a wholly owned subsidiary of Brooks Macdonald Group.
The acquisition represents an important strategic addition to the Company’s operations in Guernsey, the Isle of Man, and Jersey.
David Esfandi (pictured), CEO, Canaccord Wealth said: “We are very proud to welcome a talented and committed group of colleagues to the Canaccord Wealth family.
“This deal increases our investment expertise and wealth planning capability in the Guernsey, Jersey and the Isle of Man, helping us further cement our position as one of the biggest integrated wealth managers in the UK and Crown Dependencies.
“This acquisition is another step forward in our mission to become the best integrated wealth manager by performance and service. Scaling up our business means increasing our ability to serve the complex needs of international clients who have clear ambitions but are time-poor and need a trusted partner to help them achieve their goals.”
Andy Finch, CEO, Canaccord International said: “I’ve been so impressed by the passion, enthusiasm, and commitment of our new colleagues. Now they are formally part of the business, I am excited to begin our journey together.
“We are also looking forward to welcoming a new group of clients who have understandably high expectations. For them, as with all our clients, we will continue to deliver best-in-class service and performance.”
Andrea Montague, CEO of Brooks Macdonald, commented: “The completion of the sale of BMI to Canaccord firmly establishes Brooks Macdonald as a UK wealth management firm focused on serving clients in the UK. The future of the international market business is in great hands with Canaccord who are well known and already have a strong local presence. I would like to thank BMI clients for the trust they have placed in Brooks Macdonald over the years and wish our former BMI colleagues all the best for the future.”
