Crestridge will be consolidated with Bellwether Investment Management, a Lorne Park subsidiary
The U.S. provides a promising avenue for Canadian banks looking to expand
The announcement comes after the company agreed last week to settle both an OSC case and a class-action lawsuit filed by investors.
Despite the overall decline in M&A activity, the consolidation trend remains strong in insurance, which accounted for 43% of M&A deals in the sector
Scotia Management Cos. Administration had net assets under management of more than $678 million as of June 1
The firm’s aim to close the transaction later this month
The Canadian bank is expect to release its Q2 results on Tuesday
Intensifying M&A activity will lead to “largest competitive realignment” in this industry, new Casey Quirk report suggests
John Hamilton will continue to lead Financial Horizons and the existing management team will remain in place
But both banks say they are confident that the deal will close in June