Connor, Clark & Lunn Private Capital Ltd. (CC&L) and Greystone Managed Investment Inc. today announced their agreement to combine their high net worth private client businesses.

CC&L. will assume operating responsibility for Greystone’s high net worth clients beginning in the second quarter of 2004. With offices in Vancouver, Toronto, Regina and Edmonton, the combined assets of the firm will now exceed $800 million.

Greystone CEO Don Black said his firm is primarily an institutional investment firm and added, “While we have successfully pursued the private wealth market for some time, we wanted to take the business to the next level for our clients. Connor, Clark & Lunn has made a significant investment in this specialized field, both in product development and administration. This combined effort is the right solution for our clients and for Greystone.”

CC&L is an independently managed operation within the Connor, Clark & Lunn Financial Group. The firm offers traditional as well as alternative asset classes, including the major investment styles within each asset category.

Tim Griffin, the CEO of CC&L said, “We are very committed to the private client business. This is a logical next step in our evolution and gives us a strong presence in a region of the country that we had not developed. It is important to note however, that the move will be largely transparent to Greystone clients as they will continue to have access to Greystone managed investment products on the new platform.”