Canaccord Genuity Wealth Management has confirmed its purchase of Brooks Macdonald Asset Management (International) (BMI) in a two-part payment worth almost £51m.
The deal was first announced back in September 2024, with BMI confirming today (24 February) that the assets had been passed over. Brooks Macdonald appoints CFO as its sells international wing to Canaccord Genuity Wealth The purchase has been split into two instalments consisting of an initial £28m payment, while another round of up to £22.85m will be paid in cash over the coming two years post-completion, if certain performance criteria are met. In the RNS notice, Brooks said the sale proceeds will enable it to "focus exclusively on the core UK business and will enhance its abilit...
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