Canaccord Genuity Wealth Management acquires Hargreave Hale in £80m deal

Creates a firm with £22bn FUM

Canaccord Genuity Group has acquired wealth manager Hargreave Hale through its UK-based investment business Canaccord Genuity Wealth Management (CGWM) for up to £79.5m.

The acquisition of Hargreave Hale will add £8bn in assets and will create a wealth management business with total funds under management (FUM) of £22bn, £18bn of which are private client assets. CGWM will pay shareholders of Hargreave Hale an initial consideration £52m and an additional contingent consideration of up to £27.5m. Canaccord Genuity WM hires Brooks Macdonald man to drive international expansion Hargreave Hale provides services to over 14,000 private clients, intermediaries and charities with a specialisation in small and mid-cap fund management. The acquisition is s...