TORONTO, Feb. 1, 2015 /CNW/ - Canaccord Genuity Group Inc. (the "Company") announces that it is implementing a plan to reduce the size of its workforce within its global capital markets business to rationalize operations in light of current market conditions.
The plan will primarily affect UK & Europe and US operations and will result in a 4 percent reduction in the size of the Company's workforce at an approximate total pre-tax cost of $22 million.
ABOUT CANACCORD GENUITY GROUP INC.:
Through its principal subsidiaries, Canaccord Genuity Group Inc. (the "Company") is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has offices in 10 countries worldwide, including Wealth Management offices located in Canada, Australia, the UK and Europe. Canaccord Genuity, the international capital markets division, operates in Canada, the US, the UK, France, Germany, Ireland, Hong Kong, China, Singapore, Australia and Barbados. To us there are no foreign markets.™
Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX and the symbol CF. on the London Stock Exchange.
SOURCE Canaccord Genuity Group Inc.
Image with caption: "Canaccord Genuity Group Inc. (CNW Group/Canaccord Genuity Group Inc.)". Image available at: http://photos.newswire.ca/images/download/20150201_C9624_PHOTO_EN_43363.jpg
For further information:
North America media:
Executive Vice President, Global Head of Corporate Development and Strategy
Phone: 416-869-3875, email: firstname.lastname@example.org
For investor relations inquiries contact:
Vice President, Investor Relations & Communications
Phone: 416-687-5507, email: email@example.com
RBC Europe Limited
Phone: +44 (0) 20 7653 4000, email: firstname.lastname@example.org