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Brooks Macdonald sells international arm to Canaccord Genuity

Wealth manager offloads troubled business unit

By Kristen McGachey

and

Justin Cash
CEO Andrew Shepherd will hand over a streamlined firm when he steps down next month
CEO Andrew Shepherd will hand over a streamlined firm when he steps down next month

Brooks Macdonald has sold its international business to fellow wealth manger Canaccord Genuity for up to £51m.

It first put the international business under review in March, writing down the goodwill on the unit by nearly £12m after a disappointing run of results.

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