Intelli deal lifts Canaccord investment trust arm

CANACCORD Adams has moved to beef up its investment trust operations with the purchase of Midas Capital&rsquo;s corporate finance unit.<br /><br />The investment bank, the UK arm of Canadian firm Canaccord Capital, said it would buy Midas subsidiary Intelli, which specialises in corporate advisory and broking for investment companies and asset managers.<br /><br />The acquisition is part of the company&rsquo;s strategy of taking advantage of the market slump to grow its UK presence and recruit talent from rivals. <br /><br />&ldquo;The acquisition... provides our exceptional investment trust, sales and trading team with a primary product as well as a solid platform for our expansion strategy in Scotland,&rdquo; said chief executive Tim Hoare.<br /><br />The acquisition will add to Canaccord&rsquo;s existing investment trust operations, which it built by recruiting a team from competitor Panmure Gordon.