Canaccord acquisition to lose 100 Collins Stewart Hawkpoint jobs
23 March 2012
Approx one hundred staff will lose their jobs after Canaccord Financial’s acquisition of Collins Stewart Hawkpoint.
Canaccord has announced that the acquisition of the financial advisory group will create a leading independent investment bank, M&A adviser and wealth manager in the UK and Europe. The businesses are very complementary and are a strong cultural fit.
The jobs that will be lost are planned to be divided equally among both groups.
This will mean that Canaccord’s 150 London employees will be cut by roughly a third and Collins Stewarts 200 employees in the securities division will be reduced by a quarter.
The merged securities business will take the name of Canaccord Genuity.
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