‘A good quarter right across the board’: Canaccord CEO on latest results

Dan Daviau, chairman & chief executive officer of Canaccord Genuity, joins BNN Bloomberg to discuss the outlook on the markets.

The CEO of Canaccord Genuity Group Inc. says the Canadian investment firm’s latest quarter showed promising growth in its core wealth management and capital markets businesses, particularly in Canada and Australia.

“It was a good quarter right across the board,” Dan Daviau told BNN Bloomberg on Thursday.

“Obviously, we’ve invested an immense amount of resources in our wealth businesses. It continues to grow substantially… and Canada’s been a great driver of that.”

Daviau’s comments came a day after Canaccord released results for its fourth quarter and for the firm’s 2026 fiscal year, which beat analyst estimates.

Canaccord reported fourth quarter revenue of $612.7 million, an increase of 33.2 per cent compared to the same period in 2025 and the third highest quarterly revenue on record.

Total revenue for Canaccord’s 2026 fiscal year was $2.2 billion, the company said, an increase of 24.9 per cent year-over-year.

“We delivered record revenue in fiscal 2026 and significantly improved profitability, reflecting stronger operating leverage and disciplined execution across the platform,” Daviau said in the company’s earnings release on Wednesday.

Daviau noted that in addition to strength in its wealth business, Canaccord’s capital markets segment has also been more “constructive” in recent months.

“We’re seeing a return to risk in the market… there’s more money being deployed in the capital markets and we’re seeing some entrepreneurial companies now start to raise money, particularly in Canada and Australia,” he said.

Daviau called both the Canadian and Australian markets “phenomenal” for Canaccord, noting that the firm is the “dominant non-bank wealth platform” in Canada.

“This is a business that we started growing 10 years ago with $8 billion in assets. It’s almost $60 billion, it’s $55 billion in assets now so it’s increased materially,” he said.

“We represent a great platform for the people who don’t want to work at the banks. We’ve got a full service offering here, we’ve got a great reputation and a great platform for people to come over and work for us.”

The success that Canaccord has already seen at home in Canada is now being replicated in Australia, Daviau said, where the firm has made multiple acquisitions and continues to grow its national footprint.

While capital markets can be more volatile, Daviau argued that on the wealth management side of things, Canaccord is positioned well to continue growing the business.

“There’s no natural headwinds in the business, we’ve just got to stay out of our own way and let our entrepreneurial advisors do what they can do,” he said.

Canaccord stock was surged over 12 per cent during morning trading before pulling back in the afternoon on Thursday.