At KeyToFinancialTrends, we note that Canadian financial group Canaccord Genuity is in preliminary talks to sell its British wealth management division, Canaccord Wealth. According to sources familiar with the matter, potential buyers include private equity firms CVC and Advent International.
As KeyToFinancialTrends has learned, Canaccord Wealth CEO David Esfandi recently held several meetings with private investment firms to discuss possible deal terms. The London-based boutique investment bank Fenchurch Advisory is advising Canaccord Genuity and may launch a formal sale process later this quarter.
Our analysts at KeyToFinancialTrends estimate that the business could be valued at over £1 billion ($1.34 billion) in a potential sale. According to recent results, EBITDA for the 12 months ending in March reached £78.6 million, while assets under management stood at £38.3 billion ($51.46 billion) at the end of June.
At KeyToFinancialTrends, we note that the possible sale of the UK unit aligns with the broader consolidation trend in the wealth management industry. In recent years, firms have sought to expand scale and capitalize on growing demand for private banking and financial advisory services.
Although Canaccord Genuity said in November that it had no plans to sell its British wealth business, the latest talks suggest a shift in strategic priorities. Sources indicate that HPS Investment Partners, a BlackRock-owned private credit firm that has held a minority stake in Canaccord Wealth since 2021, is likely to divest its shares as part of the transaction.
Our experts at Key To Financial Trends highlight that deal activity in the European wealth management sector continues to rise – the number of deals increased from 90 in the first half of 2024 to 113 in 2025, while total deal value grew from $1.9 billion to $2.7 billion, according to EY data.
