Computershare to acquire exempt market business of Canadian Western Trust

Computershare Trust Co. of Canada announced Wednesday that it has signed an agreement to acquire the exempt market securities account administration and trustee business of Canadian Western Trust Company (CWT), a wholly owned subsidiary of Edmonton-based Canadian Western Bank.

On closing, Computershare Canada will assume the role of successor trustee or custodian for CWT’s portfolio of exempt market securities client accounts.

The agreement, which is expected to close no later than Sept. 30, includes a diverse portfolio of approximately 22,500 self-directed exempt market plan-holder accounts with assets under administration (AUA) of approximately $1.7 billion.

“This agreement underlines Computershare’s strategic commitment to the exempt securities market,” says Stuart Swartz, president and CEO of Computershare Canada, in a statement.

“At CWT, we are working to bring more focus to our organization and concentrate our activities within business lines that have the strongest growth opportunities and that are most aligned with the strategic objectives of CWB Financial Group,” adds Matt Colpitts, vice president and general manager of CWT.

Australia-based Computershare Ltd., the parent company of Computershare Canada, is a global market leader in transfer agency and share registration, employee equity plans, mortgage servicing, proxy solicitation and stakeholder communications.

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