Canaccord to acquire firms

Michael Bow
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CANACCORD Financial chief executive Paul Reynolds yesterday pledged to continue the firm’s expansion in the UK with future acquisitions.

The Toronto-based firm, which bought Collins Stewart Hawkpoint last year, said half its revenue come from outside Canada and that the UK was central to expansion plans.

“We should be able to continually finance one or two transactions a year to add on a billion to two billion pounds a year in assets through acquisitions,” Reynolds said. The business revealed revenues spiked 55.5 per cent in the third quarter, with two-thirds of that coming from Canaccord Genuity.