New York-based Lazard Ltd announced Wednesday it has acquired Verus Partners, an independent financial advisory boutique headquartered in Toronto.
Launched in 2014, Verus provides strategic, merger and acquisition, and investment banking advice to companies, families, institutions, and other players. The terms of the transaction were not disclosed.
Brian Hanson, co-founder and managing partner of Verus, has been named chairman and CEO, Lazard Canada Investment Banking, effective immediately.
Richard Falconer, Verus co-founder and senior partner, Richard Falconer, is also joining Lazard, as is Guy Savard, who will be senior advisor to Lazard in Quebec and Atlantic Canada.
Before they launched Verus, Hanson and Falconer were both formerly vice chairmen of CIBC World Markets. Savard was chairman of Merrill Lynch Canada and president and COO of the Caisse de dépôt et placement du Québec.
“Brian and his team bring to Lazard’s global network a number of Canada’s most experienced and knowledgeable advisors, who have deep relationships with Canada’s leading companies,” says Alex Stern, CEO of Lazard Financial Advisory, in a news release. “This combination augments the strength of our North American franchise as we continue to focus on growth by investing in our business worldwide.”
“Today we are greatly enhancing the breadth and depth of resources we offer our clients as they seek growth through M&A or other strategic transactions, whether intra-Canada or cross-border,” adds Hanson.