Cantor to acquire Canaccord Genuity Group's U.S.-based Global Wholesale Market Making Business
NEW YORK, April 1, 2025 /PRNewswire/ -- Cantor, a premier investment bank, today announced it has entered into a definitive agreement to acquire Canaccord Genuity Group's U.S.-based wholesale market making business, which specializes in U.S. OTC wholesale market making, including global equities and ADRs. The addition of this highly complementary business will further support Cantor's growth efforts and create strategic synergies across its Equities franchise.
'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 experienced remarkable growth in 2024, more than doubling revenues year over year. This success was driven by strong diversification across its existing businesses, as well as new and emerging product lines, including global Direct Market Access (DMA) trading and U.S. swaps. Reflecting this momentum, Cantor ranked 9th by volume traded in U.S. equities as of March 31, 2025, according to Bloomberg, up from 31st in 2023.
The wholesale market making business will be led by John Gillespie and John Leitch, reporting to Mr. Bandelier. Mr. Gillespie and Mr. Leitch have spent more than 15 years at Canaccord Genuity. Prior to that they were at Natixis Bleichroeder.
The business and its clients will continue to be fully supported by Canaccord Genuity LLC until completion of the transaction. Completion is subject to customary closing conditions and is expected to occur by the fourth quarter of 2025. Cantor and Canaccord Genuity will work closely together to ensure a seamless transition with no impact to client service.
About Cantor
Cantor, a premier global investment bank, is a part of the Cantor Fitzgerald group of companies. Founded in 1945, Cantor delivers unparalleled sector expertise, innovative products, and tailored solutions across a broad range of financial services, including investment banking, capital markets, fixed income and equities sales and trading, prime services, research, and asset management. Headquartered in New York, the firm has more than 60 office locations worldwide.
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Examples of such statements include, but are not limited to, statements relating to Immunic's development programs and the targeted diseases; the potential for vidofludimus calcium to safely and effectively target diseases; preclinical and clinical data for vidofludimus calcium; the feasibility of advancing vidofludimus calcium to a confirmatory phase 3 clinical trial in progressive multiple sclerosis; the timing of current and future clinical trials and anticipated clinical milestones; the nature, strategy and focus of the company and further updates with respect thereto; and the development and commercial potential of any product candidates of the company. Immunic may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management's current expectations and involve substantial risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, increasing inflation, tariffs and macroeconomics trends, impacts of the Ukraine – Russia conflict and the conflict in the Middle East on planned and ongoing clinical trials, risks and uncertainties associated with the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient financial and other resources to meet business objectives and operational requirements, the fact that the results of earlier preclinical studies and clinical trials may not be predictive of future clinical trial results, any changes to the size of the target markets for the company's products or product candidates, the protection and market exclusivity provided by Immunic's intellectual property, risks related to the drug development and the regulatory approval process and the impact of competitive products and technological changes. A further list and descriptions of these risks, uncertainties and other factors can be found in the section captioned "Risk Factors," in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 31, 2025, and in the company's subsequent filings with the SEC. Copies of these filings are available online at or Any forward-looking statement made in this release speaks only as of the date of this release. Immunic disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made. Immunic expressly disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this press release. Contact Information Immunic, BreuVice President Investor Relations and Communications+49 89 2080 477 US IR ContactRx Communications GroupPaula Schwartz+1 917 633 7790immunic@ US Media ContactKCSA Strategic CommunicationsCaitlin Kasunich+1 212 896 1241ckasunich@ View original content to download multimedia: SOURCE Immunic, Inc. Sign in to access your portfolio
