Canaccord Genuity WM to buy C. Hoare's dealing and custody arm

Follows sale of C. Hoare's wealth arm

Canaccord Genuity Wealth Management has entered into an agreement to acquire the investment dealing and custody business from C. Hoare & Co., the London-based private bank.

C. Hoare & Co. said the move is in line with its strategy of improving and refocusing on its private banking business following the sale of its wealth management arm to Cazenove Capital Management in February.  Canaccord Genuity WM's said the acquisition is part of its growth efforts, which will allow clients access to the private bank's "sophisticated operational and technology platform". David Esfandi (pictured), CEO of Canaccord Genuity Wealth Management in the UK & Europe, said: "We are delighted to announce the acquisition of C. Hoare & Co.'s investment dealing and custody busine...