Canaccord Genuity has agreed to buy Thomas Miller Wealth Management through its UK and European wealth arm, Canaccord Genuity Wealth Management, for a total of £28m.
The first £18.5m will be payable on completion, while another £9.5m is payable over a period of three years following the deal subject to achievement of performance targets, the firm said. The acquisition, which is being made through Canaccord Genuity Wealth Management (CGWM), will include the UK and Isle of Man-based wealth businesses of Thomas Miller Investments, with total combined assets of £1bn. Together, the businesses have generated revenue of £8.4m in 2018. The deal is expected to complete during the quarter ending 30 June. CGWM UK chief executive officer David Esfandi said...
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