National Bank Financial Strengthens Its Personal Wealth Management Services in Toronto with Acquisition of Aquilon Capital Corp.
Montreal, 6 February 2008 -
National Bank Financial, a subsidiary of National Bank of Canada, announced today that it has entered into a definitive agreement to acquire Aquilon Capital Corp., a Toronto-based investment management firm specializing in private portfolios for high net worth clients.
This transaction, subject to regulatory approval, will increase National Bank Financial’s assets under management by $500 million, and is consistent with the firm’s strategic commitment to develop personal wealth management in markets across Canada as a key growth area.
“This acquisition will strengthen National Bank Financial’s wealth management presence in Toronto,” said Luc Paiement, Co-President and Co-CEO of National Bank Financial. “Aquilon’s unique advisory expertise and client base of individuals and families who seek customized solutions makes it a natural fit for National Bank Financial’s Individual Investor Services network.”
Founded in 1990, Aquilon currently manages over $500 million in assets for 1,500 accounts. Approximately 15 Aquilon employees will be joining National Bank Financial, including eight advisors who specialize in personal wealth management for high net worth clients.
“National Bank Financial’s resources opens up a new level of added-value for our clients and advisors,” said Jeff Francoz, President and CEO of Aquilon Capital Corp. “We are excited to have the opportunity to join the National Bank of Canada family and look forward to continuing to build wealth for our clients.”
About National Bank Financial
National Bank Financial is a leading Canadian full-service investment dealer with $123 billion in assets under management whose origins date back to 1902. National Bank Financial has 3,600 employees with offices and operations in Canada, Switzerland, the U.S. and the United Kingdom. The firm offers financial services and products to private and publicly owned corporations and institutional investors, individual investors and government agencies. National Bank Financial has 84 personal wealth management offices across Canada, and is the dominant provider of third party brokerage services in the country. www.nbf.ca
About National Bank of Canada
National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has more than $113 billion in assets and, together with its subsidiaries, employs 16,863 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website at www.nbc.ca.
Information (The telephone number provided below is for the exclusive use of journalists and other media representatives):
Director, Public Relations Department
National Bank of Canada