The Private Capital Markets Association of Canada (PCMA) and the National Exempt Market Association (NEMA) announced their merger on Monday, making the new entity the largest private capital markets community in Canada.
The combined organizations will retain the name PCMA, saying the title best represents how the industry has evolved. Together, the associations aim to strengthen the private capital and exempt markets industry.
Originally, PCMA’s membership base and activities were primarily in Eastern Canada, and NEMA’s membership base and activities were in Western Canada. As each organization expanded, their respected operations have often overlapped.
“After years of battling alongside one another, I’m extremely excited about the next chapter in advocacy for our industry with one unified voice,” says Craig Skauge, founder, president and chairman of NEMA, in a statement.
“NEMA’s well-known grassroots advocacy efforts and PCMA’s political efforts and relationship-building, complement each other extremely well, and together position the private capital markets to have the strongest voice possible at a critical time in the capital markets,” he adds.
“Now, with the merger of our colleagues at NEMA, our association will truly be the one voice of the private capital markets,” says Doug Bedard, chairman, PCMA, in a statement.
“The two associations have worked often on the same committees and advocated in parallel on numerous industry and regulatory issues. It is with great pride in our membership and the dedicated work of our respective boards, that we are one association” Bedard adds.
PCMA member benefits will continue uninterrupted and NEMA members will be contacted in the coming weeks to join PCMA.
To celebrate the merger, a networking event will occur on April 11 in Toronto.