The transaction allows the bank to increase its reliance on wealth management as a source of earnings
Major insurers’ acquisitions of large MGAs a growing trend
MD Financial will operate as a distinct, stand-alone brand within Scotia Wealth Management upon the closing of the deal
The deal boosts Fiera’s total AUM to more than $136 billion and makes it a “competitive force” in the HNW market
This is the highest ranking Canada has achieved in EY’s Capital Confidence Barometer
Conditions likely to remain positive in the near to medium term
The completed deal creates the third-largest Canadian active asset manager with $166 billion in assets under management
Fixed-income firm specializes in U.S. mortgage- and asset-backed securities in the institutional investor market
The acquisitions aim to bolster Canaccord’s trading business and aid the development of robo-advisory offerings
The bank is reviewing its strategic options for its Malaysia franchise