08:27 AM EDT, 05/31/2024 (MT Newswires) -- Canaccord Genuity Group ( CCORF ) said on Friday that it will buy Cantab Asset Management through its U.K. wealth management business.

Headquartered in Cambridge, England, Cantab is a chartered, independent financial planning business with about 900 million British pounds in assets under management.

After the closing of the deal, Cantab's investment professionals and support staff will continue in their existing roles. David Saunderson will continue to serve as chief executive officer and member of the Cantab board.

The deal is expected to close during the quarter that ends on Sept. 30.