National Bank Completes Acquisition of Full Service Investment Advisory Business of HSBC Securities (Canada) Inc.
Montréal, 3 January 2012 -
National Bank of Canada (“National Bank” or the “Bank”) (TSX: NA) announced today that the Bank has completed its acquisition of the full service investment advisory business of HSBC Securities (Canada) Inc. (“HSBC Securities”) and certain assets related to the segregated fund and insurance business of HSBC Securities Insurance Agency (Canada) Inc. (together the “Full Service Investment Advisory Business”).
The transaction is another major step in implementing National Bank’s strategy to expand across Canada and add scale to its wealth management platform. When combined with the recently completed acquisition of Wellington West, the Bank’s brokerage arm, National Bank Financial (“NBF”), through its 1,030 advisors, now manages $80 billion in assets on behalf of more than 350,000 clients.
“We are pleased to welcome HSBC Securities’ full service investment advisory clients, investment advisors and employees to our growing family across Canada” said Luc Paiement, Executive Vice President, Wealth Management, Co-President and Co-CEO of NBF. “With the recent acquisitions, we are now one of the largest brokerage firms in Canada and well positioned to serve the wealth management needs of investors in every community across the country”.
About National Bank of Canada
National Bank of Canada is an integrated group that 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 over $156 billion in assets and, together with its subsidiaries, employs 19,431 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. To access National Bank’s financial education portal, visit www.clearfacts.ca.
About National Bank Financial
With assets exceeding $80 billion, National Bank Financial is a fully-integrated investment dealer combining retail advisory and brokerage services with institutional brokerage, investment banking, corporate finance, and securities clearing for third parties. National Bank Financial services more than 350,000 clients. Its Financial Markets division has a major presence in Toronto, Calgary, Vancouver and Montreal, as well as operations in the United States and Europe.
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