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June 6, 2019

Canaccord Genuity Group revenues slip in Q4

Canaccord Genuity Group revenues for the fourth quarter of fiscal 2019 were C$284.8m ($212.2m).

This is a fall of 12% from last year’s revenues of C$322.1m.

On the brighter side, the company posted a net income of C$2.5m for this quarter as against a net loss of C$9.7m in the previous year.

Canaccord Genuity Wealth Management 

On a global basis, Canaccord Genuity Wealth Management posted revenues of C$117.1m for the three-month period ended 31 March 2019.

Revenues at Canaccord Genuity Wealth Management (North America) were C$53.6m.

In North America, the company’s assets under administration totalled C$20.7bn at the end of March 2019.

This marks a 33% surge from last year’s figure of C$15.6bn.

Discretionary assets under management in North America jumped 50% year-on-year to C$4.2bn.

UK & Europe

Canaccord Genuity Wealth Management (UK & Europe) generated C$63.5m in revenue for the fourth quarter of fiscal 2019.

In the UK and Europe, assets under management (discretionary and non-discretionary) were C$44.2bn at the end of March 2019, down 1% from C$44.9bn last year.

Canaccord Genuity Group president and CEO Dan Daviau said: “This is our third consecutive year of meaningful year-over-year earnings growth, a testament to the work we have done to reshape our business to deliver more predictable contributions from stable businesses and verticals.

“We have continued to advance our mid-market leadership in our North American capital markets businesses, and our wholly owned global wealth management operations are increasingly contributing a greater share of our profitability.

“With an improved market environment, the backdrop for our business activities is constructive as we begin the new fiscal year.”

 

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