Venerable independent brokerage firm Canaccord is taking on the identity of its global markets division and has officially rebranded itself as Canaccord Genuity Group.
The firm announced Tuesday that, effective immediately, Canaccord Financial Inc. has been renamed Canaccord Genuity Group Inc. The new name will take effect on the Toronto Stock Exchange and the London Stock Exchange when those markets open for trading on October 2, but the trading symbols will remain unchanged on both exchanges.
The firm announced its intention to change its name in its latest earnings announcement on August 6.
“Over the past several years, our firm has entered new markets and expanded our platform under the Canaccord Genuity banner. We believe that this name change better aligns our parent company with the capabilities of our global franchise,” said Paul Reynolds, Canaccord’s president and CEO.
Canaccord Capital became known as Canaccord Financial in 2009; and, in 2010, it acquired Genuity Capital Markets, an independent advisory firm. Following that acquisition, its capital markets division was renamed Canaccord Genuity from Canaccord Adams. Now, the entire firm is taking on that identity.