Canaccord Genuity Group Inc Q2 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Stephen Boland - Raymond James Ltd. - Analyst : Good morning, all. Yeah, I certainly wanted to set out here. What's developed in the Middle East, obviously in the last month and change. I'm just wondering like in terms of the UK division, so the environment itself as the industry and yourselves kind of on hold or deals and whether it's deals or M&A, is that on hold just a wait and see environment over there to see what hopefully ends at some point again, trying to be sensitive of the question?

Question: Stephen Boland - Raymond James Ltd. - Analyst : A capital markets.

Question: Stephen Boland - Raymond James Ltd. - Analyst : Okay, and just in terms of capital, your net working capital, I think is under 700. I think I saw that number 699 I think, excuse me, as this activity perhaps ramps up a little bit, are we going to see a lot more bought deals? You think you're going to start to see more of its new issue that on this is a best efforts type of environment. What's your thought there depending on the region as well? I mean, I know Canada is probably Australia.

Question: Stephen Boland - Raymond James Ltd. - Analyst : Thanks. My last one would be just any update you just made in the MD&A somewhere or the notes. I missed it. The regulatory issue with the foreign subsidiary and the trading operation. Is there any update there or any change in the provision on those?

Question: Stephen Boland - Raymond James Ltd. - Analyst : Okay. That's it for me. Thanks. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 15, 2023 / 1:00PM, CF.TO - Q2 2024 Canaccord Genuity Group Inc Earnings Call

Question: Graham Ryding - TD Securities Equity Research - Analyst : Hi, good morning. Daniel made some comments about, you know, some difficult to predict, but the pipeline is stronger. You start seeing some deals launching now. Is that more of a reference to the M&A side of it and the activity in the pipeline that you're seeing or is that a reference to both? You've seen.

Question: Graham Ryding - TD Securities Equity Research - Analyst : Okay. That's fair enough. And then I guess at a macro level, like what are you, I guess, paying most attention to and certainly seeing some it evidences market volatility. Is it a deal activity when you have large caps, what do you sort of keeping your eye on to sort of give you some comfort or your corporate issuer clients give you some comfort that the activity might pick up.

Question: Graham Ryding - TD Securities Equity Research - Analyst : Okay. That's helpful. on the on the wealth side, could you maybe just give us some context on what you're seeing on average from your clients, both in the UK and Canada. Like is this in a market where clients are increasingly deleveraging and putting money perhaps into cash? Or are you actually seeing? And is that impacting your organic flows and your organic growth in those platforms?

Question: Graham Ryding - TD Securities Equity Research - Analyst : Yeah. I know. That that's right. I mean, we do have cash related or income type related products. So clients in a low interest rate environment would be more likely to be leaving cash in their accounts or invested in equities. But we have alternative products in this environment that will keep the assets in the system, so to speak, rather than have them go outside in order to generate that return and clients have outside pressures where they otherwise might have borrowed to fund, something now there, they're looking at them not borrowing and using their assets that we would have otherwise held. So it's a mix of all those things, and we're seeing that as with everybody else.

Question: Graham Ryding - TD Securities Equity Research - Analyst : Okay. That's just to me. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 15, 2023 / 1:00PM, CF.TO - Q2 2024 Canaccord Genuity Group Inc Earnings Call

Question: Graham Ryding - TD Securities Equity Research - Analyst : Well, thanks, everyone. And that concludes the second quarter remarks. And hopefully you heard a low point in our business, and I understand a couple of the analysts on the road today. So as you kind of listen to this call, we're happy to catch up later. I look forward to our next quarterly update in February and in the meantime, I'd like to extend my best wishes to all of you in the upcoming holiday season and certainly for our US colleagues, happy thanksgiving, as always, Don and I are available to answer questions later. So thank you again very much.