The news that the UK wealth management arm of Canaccord Genuity (CGWM) is the latest recipient of private equity capital will almost certainly result in the Canadian-based firm expanding its presence in the country further.

This capital comes via a £122.5 million investment in convertible preference shares from New York-based HPS Investment Partners.

Indeed, the presentation that Canaccord gave to accompany its third quarter results and the announcement of HPS Investment Partners’ investment, admitted as much.

“Greater scale is creating opportunities to add additional growth through recruiting and small-a...