- Originally from our sister publication, Advisor.ca.
Canaccord Financial today announced it has forged partnership with BGF Equities which will result in an expansion of its operations into Australia and Hong Kong.
The partnership entails the acquisition of a 50% equity interest in BGF Capital Group Pty Ltd (commonly known as BGF Equities), one of the fastest growing boutique equities advisory firms in Australia.
“We are pleased to welcome our new partners from BGF to Canaccord,” said Paul Reynolds, president and CEO of Canaccord Financial Inc. “The addition of our new offices in Sydney, Melbourne, and Hong Kong, allows us to better serve our clients with world class distribution capabilities in five geographies and on nine exchanges.”
The transaction is expected to close in the fourth quarter, at which point BGF Equities will be re-branded Canaccord BGF. The agreement also provides Canaccord with a call option to acquire the remaining 50% equity interest of BGF in five years.
This important expansion positions Canaccord well to leverage its expertise in the mining, energy and industrial sectors within Australia’s robust resource economy, and provides Canaccord with the capabilities to list companies on the Australian and Hong Kong stock exchanges.
“Our combined capabilities will make Canaccord BGF a significant competitor in the emerging company space and will benefit greatly from the global distribution capabilities of Canaccord,” said Marcus Freeman, managing director of BGF Equities.