Canaccord Genuity, the Canadian investment banking and wealth management group, has re-entered the UK investment company broking sector after hiring a team from Stifel.

Phil Hopkins, managing director of investment fund sales; Scott Anderson, sales director; and Edward Gibson-Watt, managing director of corporate broking, joined Canaccord last month, according to their LinkedIn profiles. 

Iain Scouller, former head of investment company research at Stifel, has also joined to lead the analytical coverage. 

Two traders are thought to have made the move from Stifel following cuts by the US investment banking and wealth management group in its UK capital markets business last year.

So far seven investment companies have followed the team, appointing Canaccord Genuity as corporate broker in place of Stifel.

Aquila Energy Efficiency Trust (AEET) was one of two yesterday with NB Private Equity Partners (NBPE) picking Stifel and Jefferies as joint corporate brokers. 

This follows Polar Capital Global Financials (PCFT), Ecofin Global Utilities and Infrastructure (EGL), JPMorgan Emerging Markets Growth & Income (JMGI), US Renewables Infrastructure (RNEW) and Abrdn Diversified Income and Growth (ADIG) where Canaccord is now broker. 

Canaccord’s presence in the investment company market reduced in June 2019 when a 14-strong team of researchers, bankers, sales and trading staff led by David Yovichic left to join Investec. 

Canaccord Genuity did not respond to an approach for comment.