On May 31, 2024, Canaccord Genuity Group Inc. (TSX) announced that its UK and Crown Dependencies wealth management business, CGWM UK, entered into a share purchase agreement to acquire Cantab Asset Management Ltd. This acquisition strengthens CGWM's position as a top-10 UK wealth manager and enhances its financial planning capabilities. Cantab, based in Cambridge with £900 million in assets under management and a 38-year history, will see its professionals and support staff retain their roles post-acquisition. Clients will experience no changes in their relationships with their financial planners.

David Saunderson will remain as CEO and board member of Cantab, ensuring continuity during the transition. David Esfandi, CEO of CGWM UK, expressed enthusiasm for the respected Cambridge team joining them and emphasized the benefits for combined clients. Saunderson highlighted the new chapter for Cantab, emphasizing the increased resources from the merger.

The acquisition, pending regulatory approval and customary conditions, is expected to complete by September 30, 2024.