Canaccord Genuity WM picks up Duncan Lawrie client book

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Canaccord Genuity Wealth Management has acquired more than 100 client portfolios from Isle of Man-based Duncan Lawrie Private Banking, subject to regulatory approval.

The portfolios will be 62 per cent discretionary and 38 per cent are of execution-only stockbroking clients.

No Duncan Lawrie staff will move across the Canaccord Genuity Wealth Management as part of the deal.

The acquisition forms part of Canaccord Genuity Wealth Management’s ambitions to grow its assets under management, which currently stand at £14bn in the UK and Europe.

Canaccord Genuity Wealth Management head of wealth management Dermot Hamill says: “We look forward to welcoming our new clients on board and providing them with the exceptional quality of service and investment offerings that we are known for.”

UK and European chief executive David Esfandi adds: “The acquisition of the Duncan Lawrie client portfolios on the Isle of Man is a great fit for our business, given our similar investment ethos and our synergies in client service.

“It is further proof of our wholehearted commitment to all the jurisdictions in which we operate. We have ambitious plans to grow our business and with a strong track record of meeting client needs and with our recent investment in technology and systems, we are well-placed to grow our client base and achieve our business objectives.”