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Investment bank Cantor has announced it has entered into a definitive agreement to acquire Canaccord Genuity Group's U.S.-based wholesale market making business, specialising in U.S. OTC wholesale market making, including global equities and American Depositary Receipts (ADRs).
The acquisition aligns with Cantor's strategic growth objectives, creating synergies across its Equities franchise by integrating this complementary business unit.
"We are committed to strategically growing our global equities franchise and look forward to welcoming this well-established, experienced team of professionals to our firm," said Pascal Bandelier, Co-CEO and Global Head of Equities at Cantor. "We plan to scale this business to ensure our clients have access to a more diversified range of products, helping them create value in all market conditions and across a growing global footprint."
Cantor's Equities and Equities Prime businesses have seen substantial growth in 2024, with revenues more than doubling compared to the previous year. This growth has been fuelled by diversification across existing operations and the introduction of new product lines, including global Direct Market Access (DMA) trading and U.S. swaps. According to Bloomberg data, Cantor has climbed from 31st position in 2023 to 9th by volume traded in U.S. equities as of 31 March, 2025.
Following the acquisition, the wholesale market making business will be led by industry veterans John Gillespie and John Leitch, who will report directly to Mr. Bandelier. Both executives bring over 15 years of experience from their tenure at Canaccord Genuity, having previously worked at Natixis Bleichroeder.
Canaccord Genuity LLC will continue to fully support the business and its clients until the transaction completes. The acquisition, subject to customary closing conditions, is expected to finalise by the fourth quarter of 2025. Both firms have committed to working closely together to ensure a seamless transition with no disruption to client service.
Cantor, part of the Cantor Fitzgerald group of companies founded in 1945, offers sector expertise and tailored solutions across investment banking, capital markets, fixed income and equities sales and trading, prime services, research, and asset management. The firm operates from over 60 office locations worldwide with headquarters in New York.
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