Cantor Hires 17 From Canaccord to Start Advisory Unit

Cantor Fitzgerald LP, the investment bank planning to add 800 employees in coming years, hired 17 people from the capital markets division of Canaccord Financial Inc. to start a corporate advisory business in Europe.

The group, based in London, will be led by Gordon Neilly, 52, who was named head of corporate finance, New York-based Cantor said today in a statement. Angelo Sofocleous, 45, co-head of equity trading, will run European sales and trading with Marc Altmann, who was already employed at Cantor. The team will report to James Rowsell, chief executive officer of Cantor Fitzgerald Europe, the firm said. The group, which will also expand brokerage services in Europe, previously worked at Canaccord Genuity, according to the statement.

Cantor’s broker-dealer unit, Cantor Fitzgerald & Co., plans to boost its headcount from the current 1,600 in the next few years, the unit’s CEO Shawn Matthews, 45, said last month. The firm’s new team will provide financial advisory services for asset management, wealth management and investment companies and cover mergers and acquisitions, capital reorganizations and debt issuance, according to the statement.

“We are in an ideal position to offer financial and advisory services throughout the European market and to add further sector specialization,” Rowsell said today in the statement.

Canaccord CEO Paul Reynolds, 49, who runs Canada’s largest non-bank brokerage, said earlier this month that the Toronto-based firm pared 150 U.K. jobs and about 84 U.S. positions as part of its March takeover of London-based brokerage Collins Stewart Hawkpoint Plc. The team joining Cantor resigned from Canaccord following the merger, Rowsell said in an e-mailed statement.

Scott Davidson, a Canaccord spokesman, declined to comment on the moves.

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