word on the street - canaccord genuity...tagline that better represents the global scope of our...
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CLIENT MAGAZINEVOL. 4 MAY 2013
WORD ON THE STREET
CLIENT MAGAZINE | VOL. 4 MAY 20132
A Global Perspective
IMPORTANT DATESMAY 21Canaccord reports fi scal Q4/13 and year-end results information
AUGUST 6Canaccord reports fi scal Q1/14 results information
AUGUST 7Canaccord Financial Inc. Annual General Meeting of Shareholders (Toronto)
VANCOUVER
CALGARY
TORONTOMONTRÉAL
BOSTONNEW YORK
HOUSTON
SAN FRANCISCO
DUBLIN
EDINBURGH
LONDON
PARISFRANKFURT
GENEVA
BEIJING
SYDNEY
MELBOURNE
HONG KONG
YANGON
SINGAPORE
UNITED STATES
Canaccord Genuity adds an Electronic Market Making team in the US
PAGE 6
UK AND EUROPE
Canaccord Genuity completes investment banking and advisory integration
PAGE 8
HONG KONG
Canaccord Genuity moves to new offi ce to accommodate expanding Hong Kong team
PAGE 12
AUSTRALIA
Canaccord appoints Trent McCamley Head of Canaccord Wealth Management Australia
PAGE 14
A Global Perspective 02
Canadian Capital Markets 04
US Capital Markets 06
UK and Europe Capital Markets 08
Service Focus: Quest/Conferences 11
Canaccord Genuity in Asia 12
Canaccord in Australia 14
Wealth Management in the UK and Europe 16
Wealth Management in Canada 18
Locations 20
CONTENTS
Which Analysts Cover Canaccord Financial Inc. (TSX: CF, LSE: CF.)?Geoffrey Kwan/Peter Lenardos (RBC Capital Markets)
Graham Ryding (TD Bank)
Joel Jeffrey (KBW)
Paul Holden (CIBC)
Phil Hardie (Scotiabank)
Sumit Malhotra (Macquarie Capital Markets)
John van Boxmeer (DBRS) – Debt rating for preferred shares
CLIENT MAGAZINE | VOL. 4 MAY 2013 3
72%Canaccord Genuity
26%Canaccord Wealth
Management
2%Corporate and Other
17%US
30%UK and Europe
3%Asia-Pacific
and Other
50%Canada
REVENUE BY DIVISION
CEO MessageOn March 26, Canaccord marked the one-year anniversary of the integration of Collins Stewart Hawkpoint with our existing operations. In the past year, we’ve achieved notable market share gains in the UK and the US, we’ve
increased cross-border opportunities for our corporate and institutional clients by working as one global team, and we’ve grown the Canaccord Genuity brand. While our efforts have garnered marked accomplishments for our fi rm, we’re not sitting idle. We continue to invest in activities that will help us grow our prominence and client value. Many of these initiatives are discussed in this edition of our corporate magazine. I hope you take the opportunity to familiarize yourself with what Canaccord is accomplishing in all of the markets we operate in.
Paul ReynoldsPresident & CEOCanaccord Financial Inc.
Growing Our Shareholder BaseCanaccord has been a public company since 2004, when the Company completed its IPO on the Toronto Stock Exchange (TSX). In 2005, Canaccord became dual listed on AIM (the London junior exchange), and in 2012, the Company graduated to the LSE main market.
Over the years, Canaccord has continually grown its shareholder base. While it is estimated that employees still own well over half the Company, our institutional shareholder base has broadened, much like our business model.
• Senior offi cers and directors of the Company own 23% of shares outstanding and 27% of diluted shares¹
• Our top 10 institutional shareholders collectively own approximately 19% of our company¹
• Our top 20 institutional shareholders collectively own approximately 25% of our company¹
• Of the institutional shareholders we know of, approximately 57% are based in Canada, 31% are based in the US and 13% are based in the UK and Europe¹
¹Of shares issued and outstanding. As of February 28, 2013. Figures should be considered approximate based on best
information available.
Global Performance and Employee Figures: Fiscal Q3/13
722UK and Europe
259US
99Asia-Pacific
and Other
1,049Canada
EMPLOYEES BY GEOGRAPHY
REVENUE BY GEOGRAPHY
TO US THERE ARE NO FOREIGN MARKETS
We’re pleased to announce that all Canaccord divisions now have a new tagline that better represents the global scope of our business and the benefi ts our clients receive by choosing Canaccord Genuity: To us there are no foreign markets.
Today, Canaccord operates in 13 countries, has 42 offi ces worldwide and has over 2,100 employees focused on generating ideas for clients. Our cross-border capabilities are continually demonstrated in the M&A transactions we’re advising on and the capital raising transactions we lead. We’re placing shares from our client offerings in markets around the world, and we’re providing quality research on companies operating on six continents. Our reach and our global relationships are what differentiate us. We provide clients with global ideas and perspectives unparalleled by other mid-market investment banks.
To us there are no foreign marketscommunicates the extent of our worldwide capabilities and international expertise. It’s a phrase that encapsulates the way we evaluate opportunities and the value proposition of Canaccord Genuity. We’re proud to now state the advantage of working with Canaccord, front and centre on all of our materials.
992Canaccord Genuity
805Canaccord Wealth
Management
332Corporate and Other
EMPLOYEES BY DIVISION
CLIENT MAGAZINE | VOL. 4 MAY 20134
From our offi ces in Toronto, Vancouver, Calgary and Montréal, Canaccord Genuity’s Canadian investment banking, sales and trading, and research teams provide clients with unbiased and innovative investment ideas to meet your strategic goals.
TORONTO
CANADIAN CAPITAL MARKETS
RECENT CANADIAN TRANSACTIONS
Adding Bench Strength to Our Energy TeamOn February 25, 2013, Canaccord Genuity welcomed Anthony Petrucci as an Oil & Gas Analyst covering intermediate and junior Exploration and Production (E&P) companies. Anthony is based out of Canaccord’s Calgary offi ce and adds further expertise to our highly regarded Energy Research team. Anthony joins Canaccord from RBC, where he covered domestic junior E&P companies. He was previously a founding partner in an oilfi eld services corporation. In addition, he has signifi cant experience in research, sales, origination and business development on the buy side.
JANUARY 2013
Financial advisor on sale of its
Bio-Products division (pending)
C$80 million
PENDING
Financial advisor to special committee
regarding takeprivate
C$2.7 billion
MARCH 2013
Financial advisor onacquisition
C$5 billion
FEBRUARY 2013
Co-lead underwriter (IPO)
C$100.1 million
CLIENT MAGAZINE | VOL. 4 MAY 2013 5
Proven Advisory Strength in CanadaCanaccord Genuity achieved record advisory levels during our fi scal third quarter 2013, and this effort was led by the success of our Canadian advisory team, who advised on and completed landmark transactions in our industry. We advised on the C$2.7 billion recapitalization of YellowMedia Inc. and were the exclusive fi nancial advisor on the C$7.5 billion acquisition of Viterra by Glencore International plc. And we continue to deliver exceptional advisory services to our clients, ranking fi rst by transaction value of M&A deals advised on during the fi rst quarter of calendar 2013.1
Canaccord Genuity is the leading fi nancial advisor in Canada based on M&A transaction value.1
THE LEADER IN M&A TRANSACTIONS DURING 2013
2013 YTD League Table
Rank Market Total Average Deal Advisor (Market Share) Share (%) Deal Size (C$ M) Size (C$ M) Deal Count
Canaccord Genuity Corp. 1 17.1% $6,358 $795 8
CIBC 2 15.7% $5,841 $649 9
TD Securities 3 15.1% $5,614 $624 9
BMO Capital Markets 4 13.2% $4,931 $329 15
Bank of America Merrill Lynch 5 11.3% $4,205 $601 7
Evercore Partners Inc. 6 10.9% $4,055 $2,028 2
Scotiabank 7 8.6% $3,207 $641 5
Goldman Sachs & Co. 8 7.6% $2,836 $1,418 2
Morgan Stanley 9 6.6% $2,474 $412 6
RBC Capital Markets 10 6.3% $2,337 $195 12
Deutsche Bank AG 11 5.9% $2,213 $1,107 2
GMP Securities 12 5.6% $2,101 $263 8
JP Morgan 13 4.5% $1,691 $282 6
Rothschild 14 4.2% $1,570 $523 3
Citi 15 2.2% $827 $413 2
1Source: Bloomberg (includes transactions announced and completed between January 1, 2013 and April 24, 2013).
Canaccord Genuity’s Leading Real Estate FranchiseCanaccord Genuity has established itself as a strong and reputable independent investment dealer within the Canadian real estate sector. Since 2006, Canaccord Genuity has participated in 80% of all Canadian real estate fi nancings, and we have led over $3.7 billion for our clients over that period.
In particular, Canaccord Genuity has proven expertise in the small and mid-cap segment of the real estate sector. Since 2006, we have raised over $2.5 billion for small and mid-cap real estate clients, making Canaccord Genuity the #1 investment dealer in this segment. Notable clients include Artis REIT, for whom we have raised over $1.7 billion through 22 fi nancings, and Pure Industrial Real Estate Trust, for whom we have raised approximately $550 million since 2010, including a $160 million equity offering in April 2013. We have also recently led two successful IPOs: HealthLease Properties REIT closed its $121 million IPO in June 2012 and was the top performing IPO in Canada that year, and in February 2013 American Hotel Income Properties REIT LP completed a $100 million IPO, and is the top performing real estate IPO so far in 2013.
In addition, Canaccord Genuity has acted on several recent high-profi le real estate M&A transactions, including acting as defence advisor to Primaris REIT, resulting in a $5 billion transaction with H&R REIT and a consortium led by KingSett Capital – the largest Canadian real estate M&A transaction ever.
CLIENT MAGAZINE | VOL. 4 MAY 20136
Canaccord Genuity’s US capital markets operations continue to advance to meet the changing needs of our corporate and institutional clients in this geography. Our team of over 120 professionals located in six offi ces are continually fi nding innovative ways to generate value for our clients.
Enhancing Our US Securities BusinessIn addition to the fi xed income origination capabilities we recently added in the US, we have also recruited an Electronic Market Making team to expand our International Equities Group, and added key personnel to our options desk. These important additions enhance our execution and technology platform, grow our institutional client list and provide our clients with an extended service offering. This diversifi cation and expansion of our trading fl oor capabilities ensures our business evolves with the needs of our clients.
Bolstering Our Energy ExpertiseIn January, Canaccord Genuity welcomed Ipsit Mohanty as VP, Senior Energy Analyst to our Houston offi ce, covering small and mid-cap Exploration and Production (E&P) companies. Prior to joining Canaccord, Ipsit was an analyst with Bank of America Merrill Lynch covering E&P master limited partnerships, as well as assisting with the company’s coverage of large cap E&P stocks. Before transitioning to research, Ipsit worked in investment banking at Bank of America, and worked as an oilfi eld engineer for two of the world’s largest oilfi eld services companies – Schlumberger and Baker Hughes. Ipsit grows Canaccord’s Energy research team in the US to seven.
US CAPITAL MARKETS
NEW YORK
JANUARY 2013
Sole bookrunner (Bought deal public
offering)
US$85 million
FEBRUARY 2013
Exclusive fi nancial advisor on its
merger with 3D Systems, Inc.
US$55 million
RECENT US TRANSACTIONS
SAVE THE DATE: August 14–15, 201333rd Annual Growth Conference
Canaccord Genuity is hosting its 33rd Annual Growth Conference, bringing together the world’s most innovative companies and institutional investors in a forum to facilitate investment opportunities globally. This two-day event taking place in Boston has become one of the most highly regarded annual conferences for emerging companies, and an opportunity for Canaccord Genuity to build relationships and showcase our expertise.
For more information about this event, please email [email protected].
For a full list of Canaccord Genuity events, please visit our events page on the Canaccord Genuity website: http://www.canaccordgenuity.com/en/News-Events/Events/.
FOR MORE INFORMATION:For questions and more information contact Nadine Miller at 617.371.3842 or [email protected]
Attendance is limited and strictly by invitation only.
Invitations are nontransferable.
Canaccord Genuity Inc. is a registered broker-dealer regulated by the SEC and FINRA. Member SIPC.
Offices in other countries are offices of other companies in the Canaccord group of companies.
See www.canaccordfinancial.com/en/companies for more information.
www.canaccordgenuity.com
WHEN:Wednesday, August 14thThursday, August 15th
WHERE:InterContinental Boston510 Atlantic AvenueBoston, MA 02210Guest Reservations: 617.747.1000
CANACCORD GENUITY 33RD ANNUAL GROWTH CONFERENCE
August 14-15, 2013Boston, MASave the Date
CONNECTING GLOBAL IDEASDon’t miss our Annual Growth Conference. For the 33rd year, we will be bringing together some of the world’s most innovativecompanies and institutional investors at our Global Conference.
For two highly productive days, some of the best of the growth universe will come together to share knowledge, discuss emergingtrends, build relationships, identify opportunities and ignite globalideas for growth.
Sharing ideas – and an offi ce – in New YorkCanaccord Genuity recently completed the integration of our New York staff into one location: 350 Madison Avenue. This move signifi es the further integration of our US business, and brings our New York team into one shared space. We expect the benefi ts of this initiative will foster further collaboration and idea-generation for our clients.
FEBRUARY 2013
Joint bookrunner (Underwritten public
offering)
US$47.9 million
FEBRUARY 2013
Exclusive fi nancial advisor on its acquisition of
Wisconsin Specialty Protein, LLC
7CLIENT MAGAZINE | VOL. 4 MAY 2013
MAD
ISON
AVE
NUE
VAND
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LT A
VENU
EPA
RK A
VENU
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EEAST 45TH STREET
EAST 44TH STREET
EAST 43RD STREET
CLIENT MAGAZINE | VOL. 4 MAY 20138
UK AND EUROPE CAPITAL
MARKETS
LONDON
From seven offi ces across the UK and Europe, our Securities and Investment Banking teams are attracting industry talent and fi nding new and innovative ways to reach clients. Our newly integrated corporate broking and advisory divisions are working more closely than ever to leverage our collaborative expertise and global platform.
CLIENT MAGAZINE | VOL. 4 MAY 2013 9
Engaging Our Target MarketsAdvertising in the Financial Times
Canaccord’s principal corporate value is that we put our clients fi rst. To help reinforce this message, Canaccord Genuity published several advertisements in the Financial Timesnewspaper to showcase our commitment to client success.
Achieving Signifi cant Milestones: UK Securities and Investment Banking TeamFollowing a successful end to 2012, during which Canaccord Genuity was the nominated adviser and broker to the largest IPO on AIM in the last three years – the £118 million admission of Eland Oil & Gas plc to AIM – the beginning of calendar 2013 is proving to bring our business new levels of success. What’s more, our UK group has recently acted as co-lead manager in the £440 million IPO of esure Group plc.
Canaccord Genuity also advised on two of the highest profi le hotel transactions in Europe recently with the disposal of Malmaison and Hotel du Vin hotels and the completion of the disposal of 42 UK Marriott hotels. We also advised M3 Capital Partners (UK) LLP and Extra MSA Group on their purchase of a national portfolio of nine motorway Service Area assets operated by Welcome Break.
Combined, our businesses in the UK and Europe have already announced 21 securities and investment banking transactions during 2013.
Serving Clients from One Fully Integrated TeamAs of March 1, 2013, Canaccord’s advisory and corporate broking divisions in the UK and Europe began operating as one unifi ed team, under the Canaccord Genuity brand. This new approach better communicates the breadth of our expertise in this market, as well as the idea sharing that takes place across our entire capital markets practice for the benefi t of our clients. Our new formally combined team showcases our ability to act on behalf of our clients during any and every phase of their corporate lifecycle and into further strategic alternatives.
In the UK, Canaccord Genuity is tied for fi rst for the number of equity deals we’re participating in so far this calendar
year, raising over £1.4 billion for our clients.1
LEADING PARTICIPATION IN UK EQUITY TRANSACTIONS1
Rank Broker No. of Deals Value (US$ M)
1 Canaccord Genuity 8 $1,404.9
1 Numis 8 $2,087.0
3 JP Morgan 7 $2,736.7
4 N+1 5 $154.1
4 Goldman 5 $2,233.7
6 Jefferies 4 $478.1
6 RBC 4 $1,347.9
6 Deutsche 4 $2,372.4
9 Cenkos 3 $83.9
9 BAML 3 $1,356.0
9 Morgan Stanley 3 $1,832.5
9 UBS 3 $1,846.2 9 Investec 3 $665.4
1Source: Thomson Reuters – as at March 27, 2013.
CLIENT MAGAZINE | VOL. 4 MAY 201310
Launching New UK Research VideosCanaccord Genuity has undertaken a new initiative in the UK to produce and distribute research videos summarizing an analyst’s report in a concise, visual and interactive manner. Considered a new industry best practice, these fi ve-minute-or-less video clips provide our analysts with an opportunity to highlight their most critical insights and valuation metrics relating to the company covered. Links to these videos are included in the PDF reports that are distributed to Canaccord Genuity’s clients, ensuring all detailed report information is provided alongside the video summary.
Growing Our Healthcare Investment Banking Coverage
Dr. Julian Feneley joined Canaccord Genuity as Head of Healthcare Investment Banking in Europe on March 19. Julian has over 20 years of healthcare industry
experience as an investment banker and as a CEO. He will lead Canaccord Genuity’s coverage of the Healthcare sector from London. Julian has previously lead the European healthcare investment banking practice of JP Morgan, has advised clients across all healthcare sub-sectors and stages of corporate development, as well as led healthcare companies in the US and UK. Julian is a qualifi ed medical doctor, and his vast experience and industry insight make him very well suited to this role.
Strengthening Our Banking Team in France
Welcoming Jean-François Biard as a Senior Adviser
Canaccord Genuity welcomed Jean-François Biard as a Senior Adviser in our advisory group in Paris in March 2013.
Prior to joining Canaccord Genuity, Jean-François spent more than 15 years at BNP Paribas where he was most recently a member of the Executive team and a Managing Director of the Advisory for Listed Companies team. He has advised on many notable transactions, including the acquisition of Aventis by Sanofi and the merger of the Lazard holding companies. He has also published several articles on stock exchange regulations and is an active member of think tanks among professional organizations and market regulation authorities. Jean-François graduated from Institut d’Etudes Politiques and has a Ph.D in law.
PARIS
FEBRUARY 2013
Sole lead manager for retail bond issue
£60 million
MARCH 2013
Co-lead Manager (IPO)
£695 million
MARCH 2013
Sole broker on recommended offer by William Hill plc
and GVC Holdings plc
£485 million
RECENT UK AND EUROPE TRANSACTIONS
MARCH 2013
Financial adviser on offer from
William Hill plc
£424 million (pending)
UK AND EUROPE CAPITAL MARKETS (continued)
Service Focus:
QuestTM
All client-facing professionals across our securities, wealth management and investment banking departments in the UK and Europe have access to an innovative, insightful and impartial research resource called QuestTM.
Quest™ is an extensive database used to analyze the performance and valuation of companies and sectors throughout Europe, North America, Asia and Africa. It is available to clients, equity salesmen and research analysts in Europe, offering a comprehensive view of almost 3,000 companies.
Clients use Quest™ to generate ideas, often using some of Quest’s best known screens that assess securities based on a range of
evaluation metrics. They can also then use the specifi c company pages to develop ideas, aided by 15 years of history and consensus-based forecasts. Quest™ also allows clients to fl ex the model for their own assumptions, thus stress testing ideas.
Quest’s proprietary stock picking tool, called triAngle, ranks stocks based on value, quality and momentum. It has a 14-year record of outperformance in the UK and European markets.*
Helping clients make better decisions for over 15 years, and supported by regular insightful publications, Quest™ is a key point of differentiation for our Securities business in Europe.
*Figures refer to the past, and past performance is not a reliable indicator of future results.
Conferences Canaccord’s business extends across many sectors, market caps and geographies. To ensure our institutional clients are provided with the opportunity to hear the latest trends, developments and opportunities in each of these areas, Canaccord hosts and attends conferences as diverse as our own business.
A Leading Mining Conference in Cape Town
In February 2013, Canaccord Genuity participated in the 19th annual Mining Indaba conference, one of the largest mining investment events in the world, which is focused on facilitating investment opportunities in African mining with the international mining community. This four-day event brought together representatives from 1,200 companies, and Canaccord Genuity was pleased to host its 3rd annual networking event, which was attended by over 500 guests.
Musculoskeletal Conference
With proven strength in the Life Sciences sector, Canaccord Genuity’s US team hosted its eighth annual Musculoskeletal Conference in March 2013. Held in Chicago with over 60 presenting companies, the conference explored the current status of various healthcare technologies and the opportunities for them in the marketplace.
UPCOMING CONFERENCESGlobal Growth Conference, Boston, August 14–15, 2013
Global Resource Conference, Miami, October 16–18, 2013
Medical Technology and Diagnostics Forum, New York, November 14, 2013
For more information, please email: [email protected]
CLIENT MAGAZINE | VOL. 4 MAY 2013 11
CLIENT MAGAZINE | VOL. 4 MAY 201312
CANACCORD GENUITYIN ASIA
SINGAPORE
Canaccord Genuity’s growing investment banking and capital markets team in Asia is developing a strong pipeline of activity, building client relationships and demonstrating expertise in this important market.
CLIENT MAGAZINE | VOL. 4 MAY 2013 13
A Market Leader in SingaporeCanaccord Genuity has established a unique position in Singapore, as the leading investment bank on the Catalist Exchange (the junior exchange of the Singapore Stock Exchange). Having led more transactions than any other investment bank on the Catalist, Canaccord Genuity has developed approximately 38% market share on the exchange1. We also act as Sponsor to 22 companies listed on Catalist. The Canaccord Genuity team in Singapore is now concentrating their efforts to further expand their coverage of the Mineral and Oil & Gas sectors to complement their existing strengths.
This 14-person team is highly regarded in the region, and we expect the team will grow in parallel with the growth of Catalist. The Singaporean government has ambitions to make Catalist the world’s premier exchange for high growth and emerging companies.
Adding New Leadership to Our Hong Kong TeamCanaccord Genuity has recently welcomed Darin Baur as Head of Metals & Mining Investment Banking, Asia, who joined our company in Hong Kong in December 2012. Darin has over 10 years of investment banking experience, advising on a diverse set of notable acquisitions and fi nancing transactions. Prior to joining Canaccord, Darin
was a Managing Director and Head of Metals and Mining Investment Banking, Asia-Pacifi c at HSBC in Hong Kong, and a Director in Citigroup’s Metals and Mining Investment Banking business in Hong Kong and the US. Darin has a Bachelor of Arts degree in Economics and Management from Albion College, and a JD from Harvard University.
Welcoming Our New CFO to Canaccord Genuity in AsiaCanaccord Genuity in Asia recently welcomed Rossetti Leung to our team in Hong Kong as the Chief Financial Offi cer for our business in Asia. Rossetti has more than 10 years of experience in the investment banking industry, with a focus on fi nancial and operational management. Most recently, Rossetti was the CO of KBW in Asia. Prior to that, she was the CFO with FPK in Hong Kong. Rossetti is a CPA who earned her MBA from Warwick University in the UK.
New Hong Kong Offi ce LocationWe’ve recently moved into a new offi ce location in Hong Kong, to accommodate our growing presence in this area. Our 15-person team in this region transitioned to a new offi ce space in January, located in the heart of Hong Kong’s fi nancial district, Central, and quickly began working on securing new client mandates.
New Location
Canaccord Genuity5th Floor, 8 Queen’s Road CentralHong Kong
1 Transactions led by Canaccord Genuity compared to total transactions on Catalist, 2010–2012.
Local Focus The Singapore Stock Exchange (SGX)
The Singapore Exchange Limited is the holding company of the stock exchanges in Singapore – the SGX Mainboard and the SGX Catalist, the junior arm of the main market. As Singapore’s global economic signifi cance continues to grow, the SGX is a critical platform for capital raising activities for companies in Asia. With over 770 companies listed on both exchanges and a combined market capitalization of SGD$993 billion1, the SGX is an increasingly important securities and derivatives market in Asia.
1SGX Statistical Report – March 2013.
SINGAPORE
Canaccord Genuity team members hard at workin Hong Kong.
CLIENT MAGAZINE | VOL. 4 MAY 201314
CANACCORD IN AUSTRALIA
MELBOURNE
In Australia, Canaccord’s capital markets business and wealth management division offer corporate, institutional and private clients insightful ideas and investment solutions to meet their evolving needs.
Canaccord Genuity: Growing the Strength of Our BusinessCanaccord’s operations in Australia provide a critical link to this important market for our global business. Clients continue to benefi t from our ability to list companies on the ASX, and our proven capital raising expertise.
As one demonstration of this, the business has recently attracted an industry-leading veteran to its Oil & Gas practice. Canaccord Genuity in Australia welcomed Angus Walker in
January as the new Head of Oil & Gas Investment Banking. Angus has over 20 years of industry experience, working on a wide range of Oil & Gas advisory projects, corporate mergers and capital raising transactions. He has previously led Oil & Gas teams at Bell Potter (formerly Southern Cross Equities) and Ernst & Young. Today, we have 10 investment banking professionals located in Melbourne and Sydney, with proven expertise in the Resource and Industrials space.
Local Focus: ASX – The Australian Securities ExchangeThe ASX is the primary stock exchange in Australia, providing companies with a proven platform to enhance their capital positions and achieve their growth strategies in this important market.
• More than 2,000 companies are listed on the ASX
• Market capitalization of AUD$1.4 trillion
• MCSI global index rating 8th
• 760 Metals and Mining companies listed on the ASX, the largest industry sector represented on the ASX
Source: www.asxgroup.com.au – As of
February 28, 2013.
Attracting Industry TalentTrent McCamley Appointed Head of Canaccord Genuity Wealth Management Australia
Canaccord welcomed Trent McCamley in February 2013 as Head of Canaccord Genuity Wealth Management Australia. Trent has extensive experience in private wealth and asset management in Australia, having most recently established and operated a private asset management boutique, McCamley Financial Group, in 2008. Prior to this, he was a Director and Deputy Head of Citi Smith Barney Australia. Trent holds a Bachelor of Business degree and an MBA, is PS146 compliant, an accredited derivatives advisor and holds a series 7 accreditation from the Securities and Exchange Commission. Trent’s achievements make him very well suited to lead our elite team of Investment Advisors in Australia.
15CLIENT MAGAZINE | VOL. 4 MAY 2013
As at June 30, 2012
As at September 30, 2012
As at December 31, 2012
$305
$354
$408
FEBRUARY 2013
Joint lead manager (Share placement)
AUD$35 million
FEBRUARY 2013
Lead manager and bookrunner (Share
placement)
AUD$11.6 million
RECENT TRANSACTIONS IN AUSTRALIA
FEBRUARY 2013
Lead manager and bookrunner
(Share placement)
AUD$11.2 million
JANUARY 2013
Sole lead underwriter and lead manager
(Rights Issue)
AUD$36.5 million
Facilitating Cross-Border Activity Sponsoring the ASX Spotlight Conference in New York
Canaccord’s global reach and increasingly integrated global investment banking practice differentiate our business and provide clients with a wide range of cross-border opportunities. Our capital markets team in Australia was proud to sponsor the sixth annual ASX Spotlight conference in New York, bringing together small to mid-cap ASX-listed companies with US investors. And Canaccord’s teams in Australia and the US are well positioned to leverage our cross-border capabilities and Canaccord Genuity’s global platform for clients.
Wealth Management in AustraliaCanaccord’s wealth management platform in Australia continues to build momentum, reaching new clients and offering tailored wealth management solutions to private investors in Australia and Southeast Asia.
CONTINUOUS GROWTH IN ASSETS UNDER MANAGEMENT(in C$ millions)
Since joining Canaccord, our team of 11 Investment Advisors in Australia has consistently grown assets under management, increasing AUM by more than 33% over the
past six months.
Trent McCamley
CLIENT MAGAZINE | VOL. 4 MAY 201316
WEALTHMANAGEMENT
UK AND EUROPE
GENEVA
In the UK and Europe, we are taking important steps to ensure our clients receive the full benefi t of our enhanced platform. Our award-winning wealth management business has proven success in helping clients reach their fi nancial goals.
CLIENT MAGAZINE | VOL. 4 MAY 2013 17
Another Award-Winning Year for Canaccord Genuity Wealth Management (UK and Europe)Canaccord Genuity Wealth Management (CGWM) is on the right track towards seeing another rewarding year, on the back of a successful 2012 that saw the fi rm win fi ve prestigious industry awards.
In January, CGWM was runner-up for the Offshore Investment Company of the Year Award at the International Financial Centre Awards, and in February, CGWM received a Defaqto 5 Star Rating for their bespoke Discretionary Portfolio Management Service for the second consecutive year. Defaqto is an independent fi nancial research and software company that specializes in rating, comparing and analyzing fi nancial products and funds, and a Defaqto 5 Star Rating is the highest achievable band for Discretionary services of this kind.
CGWM was also delighted to accept an award for Best M&A Deal for their acquisition of Eden Financial Inc., at the WealthBriefi ng European Awards 2013 at a ceremony held at the Royal Courts of Justice in London. This was the inaugural year for the WealthBriefi ng European Awards, which recognised individuals, products, services, and institutions that refl ect excellence in the global wealth management industry. The winners were determined by diverse panels of judges in the geographical regions relevant to the categories.
Transfer of Eden’s Assets to CGWM’s In-house Custody PlatformFollowing CGWM’s acquisition of Eden Financial in October 2012, Eden’s client assets were transferred onto CGWM’s custody platform on March 15.
As a result of this move, Eden clients now receive the full benefi ts of CGWM’s in-house administration and operations.
This improved custodial arrangement, wider global research platform and broader range of investment expertise available demonstrates the greater resources and enhanced service offering that Eden clients now receive as a result of the integration of Eden Financial with our broader wealth management business.
Showcasing Our New Wealth Management BrandOn May 1, all of Canaccord’s wealth management businesses were rebranded to Canaccord Genuity Wealth Management in an initiative to unify our global wealth management capabilities. In the UK, Switzerland, Channel Islands and Isle of Man, this change meant all materials with the legacy brands, Collins Stewart Wealth Management and Eden Financial, were updated to refl ect the new global brand. This seamless transition was completed with absolutely no impact to clients and was very well received. Now, all wealth management businesses under the Canaccord umbrella share the same name, client focus and global reach.
We were very pleased to launch new websites, brochures and advertising to showcase the brand and the client benefi ts of our global wealth management division.
CLIENT MAGAZINE | VOL. 4 MAY 201318
WEALTHMANAGEMENT
CANADA
CALGARY
With 16 offi ces across Canada and over 180 Investment Advisory Teams, Canaccord is a leading independent investment dealer in Canada with the backing and resources of a global investment bank. Canaccord’s wealth management practice in Canada continues to prioritize the client experience.
CLIENT MAGAZINE | VOL. 4 MAY 2013 19
Steady Growth of Assets Under ManagementOver the last two fi scal years, Canaccord’s Canadian wealth management business has steadily grown the value of discretionary assets we manage on behalf of our clients. We’ve achieved this by focusing on our client relationships and ensuring our service levels are of the highest possible standard.
ASSETS UNDER MANAGEMENT(in Canada only, in C$ millions)
Fee-related revenue levels are at record highs in the Canadian wealth management business.
Private Investment ManagementThe Complete Canaccord Private Investment Management (PIM) program is the most personalized, comprehensive portfolio management service offered by Canaccord’s wealth management business in Canada. This highly sophisticated platform is available exclusively to Investment Advisors who are registered Portfolio Managers.
The PIM platform has seen signifi cant growth over the last couple of years, nearly doubling in size. We currently manage over $500 million in client assets through PIM.
The PIM platform offers clients an exceptional investment experience through disciplined investing, comprehensive performance reporting and peace of mind with continuous manager oversight and support. The PIM platform is highly regarded by our clients.
As at December 31, 2011
As at March 31, 2012
As at June 30, 2012
As at September 30, 2012
As at December 31, 2012
$607
$677
$709
$784
$791
Delivering Complete CanaccordIn Canada, Canaccord’s wealth management business is made up of Advisory Teams rather than individual Investment Advisors. Advisory Teams are normally comprised of one or more Investment Advisors (IAs) and their assistants and associates, who together manage a shared set of client accounts. This ensures the delivery of our comprehensive wealth management service, Complete Canacccord.
Connecting through Social MediaResponding to the preferences of some clients to stay informed via social media, Canaccord’s Canadian wealth management business will soon enable qualifying Advisors to publish timely information and connect with clients via LinkedIn, Facebook and Twitter.
CLIENT MAGAZINE | VOL. 4 MAY 201320
LOCATIONSCanaccord Genuity
CanadaTorontoBrookfi eld Place161 Bay Street, Suite 3000P.O. Box 516Toronto, ONCanada M5J 2S1Telephone: 416.869.7368Toll free (Canada): 1.800.382.9280Toll free (US): 1.800.896.1058
VancouverPacifi c Centre609 Granville Street, Suite 2200 P.O. Box 10337Vancouver, BCCanada V7Y 1H2 Telephone: 604.643.7300Toll free (Canada): 1.800.663.1899Toll free (US): 1.800.663.8061
CalgaryTransCanada Tower450 1st Street SW, Suite 2200Calgary, ABCanada T2P 5P8Telephone: 403.508.3800Toll free: 1.800.818.4119
Montréal1250 René-Lévesque Boulevard WestSuite 2930Montréal, QCCanada H3B 4W8Telephone: 514.844.5443Toll free: 1.800.361.4805
BarbadosThe Business CentreUptonSt. Michael, Barbados BB 11103Telephone: 246.434.2035
United StatesNew York350 Madison AvenueNew York, NYUSA 10017Telephone: 212.389.8000Toll free: 1.800.538.7003
Boston99 High Street, Suite 1200 Boston, MAUSA 02110Telephone: 617.371.3900Toll free: 1.800.225.6201
San Francisco 101 Montgomery Street, Suite 2000San Francisco, CAUSA 94104Telephone: 415.229.7171Toll free:1.800.225.6104
HoustonWells Fargo Plaza1000 Louisiana Street, 71st FloorHouston, TX USA 77002Telephone: 713.331.9901
Chicago1880 Oak Avenue, Suite 135Evanston, ILUSA 60201Telephone: 847.864.1137
Minneapolis45 7th Street South, Suite 2640Minneapolis, MNUSA 55402Telephone: 612.332.2208
UK and EuropeLondon88 Wood StreetLondon, UKEC2V 7QRTelephone: 44.20.7523.8000
London41 LothburyLondon, UKEC2R 7AETelephone: 44.20.7665.4500
DublinFirst Floor, South Dock HouseHanover QuayDublin 2IrelandTelephone: 353.1.635.0210
FrankfurtOpernTurmBockenheimer Landstrasse 2-460306, Frankfurt am MainGermanyTelephone: 49.69.67.776.5000
ParisWashington Plaza29 rue de Berri75008, ParisFranceTelephone: 33.1.56.69.66.66
MilanFiliale ItalianaGalleria Passarella 120122, MilanItalyTelephone: 39.02.0062.1800
AsiaBeijingSuite C700, 50 Liangmaqiao RoadBeijing, 100125ChinaTelephone: 8610.8451.5559Fax: 8610.8454.0489
Hong Kong5th Floor, 8 Queen’s Road CentralCentral Hong KongTelephone: 852.3919.2505Fax: 852.3919.2599
Singapore77 Robinson Road#21-02Singapore, 068896Telephone: 65.6854.6150
AustraliaMelbourneLevel 4, 60 Collins StreetMelbourne, VIC, 3000, AustraliaTelephone: 61.3.8688.9100
SydneyLevel 26, 9 Castlereagh StreetSydney, NSW, 2000, AustraliaTelephone: 61.2.9263.2700
CLIENT MAGAZINE | VOL. 4 MAY 2013 21
Canaccord Genuity Wealth Management
CanadaBRITISH COLUMBIAVancouver Pacifi c Centre 609 Granville Street, Suite 2200P.O. Box 10337 Vancouver, BCCanada V7Y 1H2Telephone: 604.643.7300Toll free (Canada): 1.800.663.1899Toll free (US): 1.800.663.8061
Kelowna1708 Dolphin Avenue, Suite 602Kelowna, BCCanada V1Y 9S4Telephone: 250.712.1100Toll free: 1.888.389.3331
Prince George1840 Third Avenue, Suite 101Prince George, BCCanada V2M 1G4Telephone: 250.614.0888Toll free: 1.866.614.0888
Trail1277 Cedar AvenueTrail, BCCanada V1R 4B9Telephone: 250.368.3838Toll free: 1.855.368.3838
ONTARIOTorontoBrookfi eld Place, Suite 2900P.O. Box 516 161 Bay StreetToronto, ONCanada M5J 2S1Telephone: 416.869.7368Toll free (Canada): 1.800.382.9280Toll free (US): 1.800.896.1058
Burlington5500 North Service Road, Suite 805Burlington, ONCanada L7L 6W6Telephone: 905.335.5223Toll free: 1.855.392.5626
Kitchener4281 King Street East, Unit EKitchener, ONCanada N2P 2E9Telephone: 519.219.6611Toll free: 1.866.232.1894
Ottawa2 Gurdwara Road, Suite 510Ottawa, ONCanada K2E 1A2Telephone: 613.274.2662Toll free: 1.877.721.1189
Waterloo80 King Street South, Suite 101Waterloo, ONCanada N2J 1P5Telephone: 519.886.1060Toll free: 1.800.495.8071
ALBERTACalgaryTransCanada Tower, Suite 2200450 – 1st Street SWCalgary, ABCanada T2P 5P8Telephone: 403.508.3800Toll free: 1.800.818.4119
Calgary322, 11th Avenue SW, Suite 207Calgary, ABCanada T2R 0C5Telephone: 403.531.2444Toll free: 1.866.531.2444
Calgary2nd Street SW, Suite 1409Calgary, ABCanada T2R 0W7Telephone: 403.263.7999Toll free: 1.877.263.7999
EdmontonManulife Place10180 – 101st Street, Suite 2700Edmonton, ABCanada T5J 3S4Telephone: 780.408.1500Toll free: 1.877.313.3035
QUÉBECMontréal 1250 René-Lévesque Boulevard West Suite 2930Montréal, QC Canada H3B 4W8Telephone: 514.844.5443Toll free: 1.800.361.4805
Gatineau12, rue Sainte Marie Gatineau, QCCanada J8Y 2A3Telephone: 819.772.4737Toll free: 1.877.496.1685
NOVA SCOTIAHalifaxPurdy’s Wharf Tower IISuite 20041969 Upper Water StreetHalifax, NSCanada B3J 3R7Telephone: 902.442.3162Toll free: 1.866.371.2262
CANACCORD GENUITY WEALTH MANAGEMENT (USA), INC.Pacifi c Centre, Suite 2200P.O. Box 10337609 Granville Street Vancouver, BC Canada V7Y 1H2Telephone: 604.684.5992
CLIENT MAGAZINE | VOL. 4 MAY 201322
UK, Europe and OffshoreLondon8th Floor88 Wood StreetLondon, UKEC2V 7QRTelephone: 44.20.7523.4600
Jersey37 The Esplanade St HelierJersey JE4 0XQTelephone: 44.1534.708090
GuernseyThe GrangeSt Peter PortP.O. Box 45Guernsey GY1 4AXTelephone: 44.1481.712889
GuernseyLandes du Marche ChambersP.O. Box 328ValeGuernsey GY1 3TYTelephone: 44.1481.251515
Isle of ManAnglo International HouseBank HillDouglasIsle of Man IM1 4LNTelephone: 44.1624.690100
Geneva7, avenue Pictet-de-Rochemont1207 GenevaSwitzerlandTelephone: 41.22.707.0080
AustraliaMelbourneLevel 4, 60 Collins StreetMelbourne, VIC, 3000, AustraliaTelephone: 61.3.8688.9100
SydneyLevel 26, 9 Castlereagh StreetSydney, NSW, 2000, AustraliaTelephone: 61.2.9263.2700
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This newsletter is provided for information purposes only and is intended for distribution in those jurisdictions where subsidiaries of Canaccord Financial Inc. (CF) are registered as advisors or dealers in securities. Any distribution or dissemination of this newsletter in any other jurisdiction is strictly prohibited. The information does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation is not authorized, or to any person to whom it is unlawful to make such an offer or solicitation. This is not, and under no circumstances should be construed as, a solicitation to act as a securities broker or dealer in any jurisdiction by any person or company that is not legally permitted to carry on the business of a securities broker or dealer in that jurisdiction. To the fullest extent permitted by law, neither CF, its affi liates nor any other person accepts any liability whatsoever for any direct or consequential loss arising from any use of the information contained herein. The information herein may not be altered in any way, or transmitted to or distributed to any other party, without the prior express written permission of CF.
• Canaccord Genuity Inc., Member FINRA/SIPC• Canaccord Genuity Corp., Member IIROC/Canadian Investor Protection Fund• Canaccord Genuity Limited is a Limited Company registered in London
Reg: 01774003, is authorized and regulated by the Financial Conduct Authority, and is a member of the London Stock Exchange
• In Canada, Canaccord Genuity Wealth Management is a division of Canaccord Genuity Corp., Member – Canadian Investor Protection Fund
• In the UK, Canaccord Genuity Wealth Management is a trading name of Canaccord Genuity Wealth Limited, Canaccord Genuity 360 Limited (CG360), Canaccord Genuity Investment Management Limited (CGIML) and Canaccord Genuity Financial Advisors Limited (CGFAL), all of which are authorised and regulated by the Financial Conduct Authority. Canaccord Genuity Wealth Management (CGWM)is also a trading name of Canaccord Genuity Wealth (International) Limited (CGWI) which is licensed and regulated by the Guernsey Financial Services Commission, the Isle of Man Financial Supervision Commission and the Jersey Financial Services Commission. CGWI is registered in Guernsey and also operates a representative offi ce in Geneva. CGWM is also a trading name of Canaccord Genuity Wealth (Suisse) SA which is registered in Switzerland, member no. 554 of the Organisme D’Autorégulation des Gérants de Patrimoine, Gèneve.
• Canaccord Genuity (Australia) Limited – Authorized and regulated by ASIC
The information contained herein has been compiled by CF from sources believed to be reliable, but no representation or warranty, express or implied, is made by CF, its affi liates or any other person as to its accuracy, completeness or correctness.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This document may contain certain “forward-looking information” (as defi ned under applicable securities laws). These statements relate to future events or future performance and include management’s expectations, beliefs, plans, estimates, intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts, business and economic conditions and CF’s growth, results of operations, market position, ability to compete and future fi nancial or operating performance of CF, performance and business prospects and opportunities. Such forward-looking information refl ects management’s current beliefs and is based on information currently available to management. In some cases, forward-looking information can be identifi ed by terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, “target”, “intend”, “could” or the negative of these terms or other comparable terminology. By its very nature, forward-looking information involves inherent risks and uncertainties, both general and specifi c, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking information. In evaluating these statements, readers should specifi cally consider various factors, which may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, market and general economic conditions, the nature of the fi nancial services industry, the risks and uncertainties discussed from time to time in the Company’s interim and annual consolidated fi nancial statements and its Annual Information Form fi led on www.sedar.com. Readers are cautioned that the preceding list of material factors or assumptions is not exhaustive. Except as may be required by applicable law, Canaccord does not undertake, and specifi cally disclaims, any obligation to update or revise any forward-looking information, whether as a result of new information, future developments or otherwise.
All material presented in this document, unless specifi cally indicated otherwise, is under trademark and copyright to Canaccord Genuity Corp., Canaccord Genuity Limited, Canaccord Genuity Inc. or Canaccord Financial Inc. None of the material, nor its content, nor any copy of it, may be altered in any way, or transmitted to or distributed to any other party, without the prior express written permission of the entities listed above.
www.canaccord.com
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