TRANSACTION SUMMARY

On 14 December 2021, Canaccord Genuity Group Inc. (“Canaccord”) announced that through its wealth management business in the UK and Crown Dependencies (Canaccord Genuity Wealth Management UK, “CGWM UK”) it had agreed to acquire Punter Southall Wealth Limited (“PSW”) for total consideration of (i) £164m of cash, plus (ii) an equity interest in CGWM UK (amount undisclosed), and (iii) approximately £6m of retention and incentive awards comprising cash and equity in CGWM UK for certain key employees of PSW.

The acquisition brings to CGWM UK a leading vertically integrated wealth manager in PSW, with a broad range of advice and wealth management solutions to high net-worth individuals, including bespoke portfolios, managed portfolio services and a multi-asset fund range, complemented by a strong intermediary distribution channel. On completion, PSW’s core client proposition will remain largely unchanged, and the existing direct relationships between portfolio managers, financial planners and their clients will not be affected. With a strong track record of successfully integrating businesses and clients, CGWM UK expects to achieve tangible revenue and cost synergies with a clear pathway to continued growth.

PUNTER SOUTHALL WEALTH

Punter Southall Wealth Limited is a leading vertically integrated wealth manager with approximately £5.0 billion in client assets, which currently operates as a subsidiary of Punter Southall Group, founded in 1988. With offices in London, Guildford, Birmingham, Newcastle and Edinburgh, the business offers clear, expert, and timely financial planning, wealth management, investment management and retirement planning services to high net-worth individuals.

CGWM UK

CGWM UK is a subsidiary of Canaccord Genuity Group Inc., the Toronto listed full-service financial services firm founded in 1950. The business provides comprehensive wealth management solutions and brokerage services to individual investors, private clients, charities and intermediaries through a full suite of services tailored to the needs of clients in each of its markets (UK and the Crown Dependencies).

ROLE

SHP acted as financial adviser to Punter Southall Group.