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Canaccord Genuity acquires investment dealing and custody business from C Hoare


Canaccord Genuity Wealth Management UK & Europe is to acquire the investment dealing and custody business of London-based private bank C Hoare & Co.

The sale by C Hoare & Co is in line with the bank's strategy of improving and refocusing on its private banking business following the recent sale of its wealth management business in February, 2017.
David Esfandi, chief executive officer of Canaccord Genuity Wealth Management in the UK & Europe, says: "We are delighted to announce the acquisition of C Hoare & Co's investment dealing and custody business, which wholly supports our growth strategy. Alongside our relationship-led approach and strong expertise, our investment in a state-of-the-art and highly scalable trading platform means that we are well-placed to welcome our new clients and provide the excellent service and stockbroking expertise they are looking for."
Alexander Hoare, partner and director at C Hoare & Co, says: "C Hoare & Co has a strong heritage as a private bank, and we are focusing all our efforts on providing this to the highest standards. We believe that Canaccord Genuity Wealth Management will be able to provide an excellent investment dealing and custody service for our customers."
It is expected that the transaction will close in the second quarter of the 2017 calendar year.

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