U.S. financial services giant Cantor Fitzgerald is expanding its Canadian presence with the acquisition of investment dealer and research analyst firm Versant Partners and its 16 employees in Montreal and Toronto.
Versant Partners' sales and trading, research and investment banking team will join Cantor Fitzgerald's Canadian subsidiary headed by Laurence Rose. Mike Jams will lead Cantor's Canadian Equity Capital Markets team. Technology analyst Tom Liston will become Cantor's director of Canadian research.
Cantor said the addition of Versant's strengths in technology, health care and other high-growth industries will expand its ability to serve Canadian institutional investors. Canadian companies will gain access to Cantor's global distribution platform, financial products and expertise.
"We're bullish on Canada and Canadian companies, and look forward to championing them," stated Cantor Fitzgerald CEO Shawn Matthews.
"The Versant team underscores Cantor's continuing commitment to providing clients with worldclass expertise in key local markets. These talented professionals will help broaden our capabilities, strengthen our existing customer relationships and enhance our overall offering for clients in Canada."
Rose added the new team will enhance Cantor Fitzgerald's ability to distribute Canadian financial products globally and provide Canadian institutions with access to global products domestically.
The transaction is expected to close early next month. No price for the transaction has been disclosed.
Cantor Fitzgerald is a capital markets investment bank serving more than 5,000 institutional clients around the world. It has 1,600 employees in some 30 locations in North America, Europe, Asia/Pacific and the Middle East.
