The Vancouver-based financial-services firm reported revenue of $428.6 million for the quarter ending Sept. 30, up 27.1 per cent compared to the same period last year. Net income rose to $9.2 million, compared to a $5.9 million loss the previous year. (The Logic)
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The Vancouver-based financial-services firm reported revenue of $428.6 million for the quarter ending Sept. 30, up 27.1 per cent compared to the same period last year. Net income rose to $9.2 million, compared to a $5.9 million loss the previous year. (The Logic)
Talking point: Canaccord CEO Daniel Daviau told Bloomberg the firm’s wealth unit broke records for revenue, client assets and earnings in the quarter—even as shares fell seven per cent Friday afternoon. Canaccord has made wealth management a focus to counter lagging revenue from trading and investment banking. In October, the firm announced Nadine Ahn, who was terminated from her CFO position by Royal Bank of Canada for allegedly having an undisclosed personal relationship with a colleague, will become chief financial officer starting in 2025.
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