Canaccord Genuity Capital Markets
Our global capital markets operations provide investment banking, advisory, sales and trading, equity research and fixed income services to corporate and institutional clients around the world. Independent advice and a globally integrated service model are the hallmarks of our ability to lead the market in key sectors of the global economy. During fiscal 2019, we made disciplined investments to deepen our client offering and enhance our earnings stability through market cycles.
Our specialized expertise in key sectors of the economy allows us to see ahead of the curve and unlock opportunities for our clients as they grow.
With a proven track record of unparalleled origination and placement capability, we are establishing mid-market leadership in our core focus sectors.
Despite the impact of significant market headwinds during the fiscal year, largely driven by ongoing political uncertainty in the UK, a US federal government shutdown during our second half, and a rotation away from small-cap equities in Australia, revenue earned by our global capital markets operations increased by 11% compared to the previous fiscal year.
By upholding a disciplined focus in the areas where we know we can add the most value, we protect our ability to form lasting client partnerships and provide continuous access to market-leading services at every stage of the business cycle.
As a leading independent investment bank, Canaccord Genuity occupies an increasingly vital role in supporting healthy economies in the regions where we live and work.
Establishing mid-market leadership
With deeply established global capabilities and a strong track record of delivering successful outcomes for clients across the value chain, Canaccord Genuity is a powerful mid-market competitor in our core geographies and focus sectors. We are a leading equities underwriter in Canada(2) and this position of strength has helped us expand our competitive positioning in other geographies.
Diversifying our revenue streams
We have made excellent progress on our strategic priority of increasing contributions from higher margin advisory activities, a reflection of growing demand for independent advice that is free from conflict. Our acquisition of mid-market advisory firm Petsky Prunier adds scale in our US business and advances this priority, while creating a top-tier mid-market M&A franchise in the region.
Going deeper in our core strengths
During fiscal 2019, we closed our acquisition of Jitneytrade, which has enhanced our market share by expanding our product offering to include futures, options and low latency trading capabilities for our clients in Canada. As we focus on expanding our offering to our targeted client base, we have also established success in alternative financing vehicles, such as SPACs, which provide an attractive option for private companies looking to access public growth markets.
A business model centred on stability
While we are agile enough to move swiftly into new areas of growth, we are careful to limit our reliance on any single business or sector. Additionally, our unified global network of sales, trading, research, investment banking and advisory efforts in all regions has helped drive incremental revenue growth and deeper relationships with our clients, and ultimately, more predictable returns for our shareholders.
(1) Transactions valued above C$1.5 million.
(2) Transactions over C$1.5 million. Includes led and co-led common equity deals and income funds (units, flow-through, convertible debt). Excludes prefs. Source: FP Infomart