Reaching Our Objectives
Most of our initiatives during fiscal 2013 were focused on further integrating components of our global platform, enhancing cross-border co-operation within our divisions and realizing the value of the investments we’ve made to expand our business.
We invested time, effort and capital to achieve the following objectives during fiscal 2013:
| 1 |
Deliver our global platform to clients more effectively |
- Implemented global leadership roles for investment banking and research practices to coordinate further communication amongst regions
- Expanded our research distribution capabilities to ensure the full range of our product reaches all of our clients in Canada, the US, the UK, Europe and Australia
|
| 2 |
Deliver cost savings from the acquisition of Collins Stewart Hawkpoint plc (CSHP)
to shareholders |
- Removed approximately $48 million of costs from the separate operating platforms of Canaccord and
CSHP by combining operations onto one platform
- Consolidated office space and rationalized real estate to capture cost savings
- Established optimal staffing levels across our business
|
| 3 |
Grow our global wealth management division through an aggregation strategy |
- Acquired Eden Financial’s wealth management business on October 1, 2012
- Reached our stated goal of achieving over £10 billion in assets under management at our UK and Europe wealth management business
|
| 4 |
Strengthen our Canadian wealth management business |
- Grew Canadian recurring, fee-based revenue to 26.2% of total Canadian wealth management revenue
during fiscal 2013, up from 18.9% last year
- Refocused branch operations in major Canadian centres and reduced operating costs
- Advanced advisor training programs, leading to the highest levels of advisor participation ever seen in our business
|
| 5 |
Launch a universal wealth management brand |
- Successfully introduced Canaccord Genuity Wealth Management as our global wealth management brand
on May 1, after months of preparation
- Enhanced opportunities to build brand awareness and share company resources amongst geographies
|
CORE FISCAL 2014 OBJECTIVES:
- Further leverage our global capabilities on behalf of clients
- Return wealth management in Canada to being a positive contributor to earnings
- Continue to grow the wealth management business in the UK through organic growth and acquisitions
- Gain business scale in the US through strategic recruiting and areas of targeted growth