Canaccord Genuity acquires Hargreave Hale in £80m deal

The acquisition of Hargreave Hale will add £8bn in assets and will create a wealth management business with total funds under management (FUM) of £22bn, £18bn of which are private client assets. CGWM will pay shareholders of Hargreave Hale an initial consideration £52m and an additional contingent consideration of up to £27.5m. Hargreave Hale provides services to over 14,000 private clients, intermediaries and charities with a specialisation in small and mid-cap fund management. The acquisition is subject to regulatory approval and approval by shareholders of Hargreave Hale and oth...