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Vancouver-based Canaccord Genuity Group Inc. has agreed to buy New York City-based transaction advisory firm Sawaya Partners.

As part of the deal, announced Dec. 21, Sawaya’s founder and managing partner Fuad Sawaya will become vice chairman, consumer and global head of the consumer investment banking practice at Canaccord.

Sawaya founded Sawaya Partners in 2001, and the firm provides advice for sell-side mergers and acquisitions, buy-side M&A and corporate divestitures, among other services.

Previous to that in the 1990s, he ran the consumer products investment banking group at PaineWebber Inc. in the U.S. He spent 14 years in the mergers and acquisitions department of that firm.

All existing employees of Sawaya Partners will continue with Canaccord’s U.S. capital markets business, a release said, adding that partners Jeff Kuhr and Slava Leykind will become co-heads of Canaccord’s U.S. consumer investment banking group.

The details of the acquisition, which is subject to closing conditions, weren’t disclosed. The release said the deal is expected to close at the end of this year, and that it underscores Canaccord’s “commitment to expanding its advisory capability and builds upon its existing consumer practice.”

The release also noted that Canaccord’s U.S. capital markets business, which has been expanding since 2019, has been “a growing contributor of revenue and net income.” At the end of fiscal 2021, revenue from advisory activities increased 200% when compared with the end of fiscal 2018, it added.

During the fiscal year ending March 31, 2021, Canaccord Genuity reported $590 million in revenue from its U.S. capital markets operations, up from $350 million the previous year.

Canaccord’s total global capital markets revenue was $1.3 billion during the year ending March 31, 2021, while total global revenue for the year (including wealth management) was $2.0 billion.

The Sawaya Partners deal comes a week after Canaccord announced an agreement to acquire British wealth management firm Punter Southall Wealth Limited for nearly $300 million.

Two months ago, Canaccord closed a deal to acquire the private client investment management business of Adam & Company from the Royal Bank of Scotland PLC, for what was reported in April as a cash consideration of £54 million ($94.9 million).