National Bank Financial has entered into an agreement to buy Opus 2 Financial.

“This acquisition reflects one of National Bank Financial’s core strategies of developing a suite of managed products under the umbrella name Turnkey Investment Services for distribution through our 850 adviser national network,” said Germain Carriere, National Bank Financial’s president and COO.

Terms of the deal, which is expected to close by February 2002, were not disclosed. The transaction is subject to regulatory approval


Opus 2 Financial will specifically develop a pooled fund wrap product for National Bank Financial under the name Emissary as part of this strategy.

“Current unitholders of Opus 2 funds will be well served by this agreement, as the existing Opus 2 and Ambassador offerings remain and will continue to be managed, priced and distributed as before,” said Opus 2 Financial’s chairman and CEO Allen Clarke.

“The agreement with National Bank Financial is exactly what Opus 2 Financial was looking for — National Bank Financial understood our mandate to deliver investment portfolios, not funds. This new partnership will provide the capital needed to continue to grow assets and further develop our industry-leading, Internet-based service and support platform.”

Carriere and Clarke expect considerable synergy from the combination of the two firms. This partnership will allow Opus 2 Financial to continue increasing its stable of innovative managed-portfolio offerings for individual investors. National Bank Financial will benefit from sourcing both product and expertise from Opus 2.