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Canaccord posts $577.4 million in Q1 revenue
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Investment Executive
Canaccord Genuity Group Inc. posted firm-wide revenues of $577.4 million for its latest quarter, ended June 30.
Canaccord’s global wealth management business posted $305.1 million in revenue, up 25.6% year over year and a new quarterly record.
Higher quarterly commissions and fees revenue of $246.1 million largely drove the rise, as markets performed well and asset inflows increased client assets.
Canaccord reported similar growth in its global capital markets business, with quarterly revenue rising 30.2% year over year to $260.5 million.
Higher advisory fees, investment banking revenue and commissions and fees revenue contributed.