Canaccord Genuity Group (TSE:CF) shareholders approved all matters presented at the company’s fiscal 2026 annual general meeting, including the election of six directors, the appointment of Ernst & Young LLP as auditor and an advisory vote on the company’s executive compensation approach.
Dan Daviau, the company’s CEO since 2015 and chairman since 2024, said the company’s fiscal 2026 performance reflected the strength of its strategy, operating model and partnership culture amid an initially uncertain market backdrop.
Shareholders Elect Six Directors
Shareholders voted to set the number of directors at six and elected Michael Auerbach, John Albright, Dan Daviau, Shannon Eusey, Terry Lyons and Cindy Tripp to serve until the next annual meeting or until their successors are appointed.
The company also received shareholder approval to appoint Ernst & Young LLP as its auditor for the coming year, with the board authorized to determine the firm’s compensation. Shareholders approved the non-binding advisory resolution on executive compensation, which Daviau said the board considers an important component of shareholder engagement.
Daviau said the board will review the vote results in considering future decisions related to executive compensation.
Revenue Exceeds CAD 2 Billion
Daviau said full-year revenue rose 20% to more than CAD 2 billion in fiscal 2026, while adjusted net income attributable to common shareholders increased 115%. The results were accompanied by “meaningful” expansion in the company’s pre-tax margin, he said.
The company’s revenue mix was more balanced than in prior periods when it last reached a similar revenue level. Wealth management accounted for 50% of annual revenue, compared with earlier periods when capital markets produced roughly two-thirds of firm-wide revenue, according to Daviau.
“This diversification underscores the strength of our wealth management platform and highlights the meaningful upside potential in capital markets as activity continues to recover,” he said.
- Wealth management revenue increased 26% year over year.
- Wealth management adjusted pre-tax net income rose 40%.
- Client assets grew 23%, reaching records in each of the company’s geographies.
- Capital Markets revenue increased 26%, while its pre-tax net income contribution more than tripled.
Wealth, Capital Markets Investments Drive Results
Daviau said wealth-management client asset growth was supported by market appreciation, positive net inflows and deeper client engagement. In the United Kingdom and Crown dependencies, the company focused on organic growth initiatives, including financial-planning and distribution capabilities. In Canada, increased client activity and advisor collaboration supported results as the company grew fee-based revenue and transaction volume.
In Australia, Daviau said underlying growth was supplemented by the Wilsons Advisory acquisition, which added scale, expanded capabilities and created a national footprint.
Within Capital Markets, investment-banking revenue rose 93% year over year and represented 39% of Global Capital Markets revenue. Daviau said higher corporate financing activity across all regions supported the result, particularly in Canada and Australia, where the firm has metals and mining franchises.
Advisory revenue reached its highest level since fiscal 2022 and represented 29% of Capital Markets revenue. The U.S. business led advisory performance, supported by technology activity, while contributions also improved in sectors including metals and mining.
The company also divested its U.S. wholesale market-making business and acquired CRC-IB, which Daviau said expands its renewable-energy and energy-transition advisory capabilities.
Compliance Work and Fiscal 2027 Outlook
Daviau said the company resolved a previously disclosed regulatory enforcement matter involving non-core trading operations in its U.S. Capital Markets business. He said the issue did not involve other U.S. operations or company operations in other geographies, but related penalties and remediation costs affected U.S. profitability during the fiscal year.
He said the resolution was part of a broader multiyear effort to strengthen the company’s compliance framework, controls and oversight capabilities.
Entering fiscal 2027, Daviau said the company had carried momentum from its record fiscal 2026. He pointed to a strong first-quarter result disclosed the prior evening, with higher year-over-year contributions from both Wealth Management and Capital Markets. He said earnings growth substantially outpaced revenue growth and that the company was on track to meet its operating-margin improvement target for the current fiscal year.
Canaccord plans to continue investing in technology, including artificial intelligence, to improve efficiency, insights, controls and risk management, Daviau said. He added that the company intends to use AI with governance, data protections and human oversight while maintaining focus on client relationships.
About Canaccord Genuity Group (TSE:CF)
Canaccord Genuity Group Inc, a full-service financial services company, provides investment products, and investment banking and brokerage services to institutional, corporate, and private clients. It operates in two segments, Canaccord Genuity Capital Markets and Canaccord Genuity Wealth Management. The Canaccord Genuity Capital Markets segment offers investment banking, advisory, research, merger and acquisition, sales, and trading services. The Canaccord Genuity Wealth Management segment provides wealth management solutions, and brokerage and financial planning services to individual investors, private clients, charities, and intermediaries.
