The Globe and Mail reports in its Friday, Nov. 15, edition that Canaccord Genuity Group has successfully recruited a group of advisers managing $1-billion in client assets from the Canadian Imperial Bank of Commerce. The Globe's Andrew Willis writes that this marks Canaccord's second major acquisition from its banking rival in just two months. The newly hired group, known as the Sutherland Investment Group based in Ottawa, is led by former CIBC manager Fraser Sutherland. This move enables Canaccord to establish its first office in the capital city of Canada. Matt Cicci, head of the private client group, stated in a news release on Thursday, "Expanding into Ottawa marks a significant milestone that allows us to enhance our service to clients in the capital region." The Sutherland group, all of whom are former CIBC employees, will now work to convince their clients to transfer their accounts to Canaccord. In September, Canaccord welcomed a Vancouver-based adviser group, BPS Wealth Management, with $1.4-billion of assets from CIBC. Canaccord chief executive officer Stuart Raftus says, "The recent addition of multiple leading advisory teams demonstrates our platform's appeal to elite advisers."