The chief executive of Canaccord Genuity Group, Paul Reynolds, said that the bank is seeking to acquire a wealth-management firm in UK early 2015.
Reynolds told Bloomberg that the company is planning to buy a wealth management firm with assets between £1bn and £4bn.
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The company is looking to pay about $200 million on the ‘high side’, Reynolds added.
Reynolds said: "We’ve been spending a lot of time in the UK and looking toward the right fit. We have a strategic list of business we’re interested in and sometime next year you’ll see us executing on that strategy."
Also, Canaccord Genuity Group has named Dennis Miller as an additional independent director to its board.
Canaccord Genuity Group has recorded net income of C$17.6m in the quarter ended 30 September 2014, compared with a net loss of about C$100,000 in the corresponding quarter last year.
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By GlobalDataLast year, Canaccord Genuity acquired British brokerage Collins Stewart Hawkpoint for $393m and also acquired the private wealth management unit of Eden Financial for $20.8m in 2012.
