The Globe and Mail reports in its Saturday, Oct. 18, edition that two unnamed sources say Canaccord Genuity Group has been sounding out potential bidders, including CVC and Advent, for its British wealth arm. A Reuters dispatch to The Globe reports that the sources say the chief executive officer of the unit, known as Canaccord Wealth, has held meetings with private equity firms recently about a potential sale. Sources say Fenchurch Advisory is advising Canaccord Genuity on a potential sale and could begin a formal process later this quarter. Sources say the business could fetch a valuation of more than one billion pounds in a sale. As of the end of June, it had assets under management of 38.3 billion pounds, according to its latest quarterly results. Canaccord Genuity issued a statement, saying it "routinely evaluates strategic initiatives in consideration of the rights of its strategic and financial minority partner in the UK wealth management business aimed at enhancing value for all stakeholders, including its employees and clients." It said, "At times, these evaluations involve discussions with potential counterparties, however, there can be no assurance that such discussions will result in any specific outcome."