Former WPP deal-maker Lance Maerov joins Canaccord Genuity as it expands M&A practice

In a strategic move to enhance its mergers and acquisitions practice in the advertising and media sector, Canadian investment bank Canaccord Genuity is set to welcome Lance Maerov, a former top dealmaker at advertising giant WPP.

This news, exclusively reported by Business Insider, comes as the bank aims to capitalize on an evolving agency landscape marked by technological advancements and changing client needs.

Maerov, who departed WPP in December after more than two decades with the company, will join Canaccord Genuity's technology, media, marketing, and information M&A practice.

Sources familiar with the matter, who requested anonymity, confirmed to Business Insider that the hiring was communicated to Canaccord staff earlier this week.

The recruitment of a seasoned ad executive like Maerov underscores Canaccord Genuity's commitment to expanding its footprint in the advertising and media space, suggesting that acquisition activity within the sector may soon accelerate.

WPP, once a leader in the industry, has seen its market value fall behind competitors like Publicis and Omnicom. However, recent reports indicate a return to revenue growth for WPP, suggesting resilience amid the competitive landscape.

Maerov's extensive background in corporate development at WPP, where he played a pivotal role in transformative acquisitions. His previous experience includes sitting on the boards of several high-profile companies, such as Vice Media and Refinery29, and providing strategic insights that led to significant M&A transactions.

Following his departure from WPP, Maerov launched Dinmont Ridge, a consulting firm focused on strategic advice and investment capital. His transition to Canaccord Genuity marks a noteworthy step in his career, as he seeks to leverage his expertise to drive growth and opportunity in the evolving media landscape.