Canaccord Genuity hashas completed its acquisition of Thomas Miller Wealth Management through its UK and European wealth arm, Canaccord Genuity Wealth Management, for a total of £28m.
The first £18.5m is payable on completion, while another £9.5m is payable over a period of three years following the deal subject to achievement of performance targets, the firm said at the time the deal was announced. The acquisition, which is being made through Canaccord Genuity Wealth Management (CGWM), will include the UK and Isle of Man-based wealth businesses of Thomas Miller Investments, with total combined assets of £1bn. Together, the businesses have generated revenue of £8.4m in 2018. The deal is expected to complete during the quarter ending 30 June. Commenting on the ac...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
