ATB Financial's Acquisition of BCV Asset Management
2024-11-27
Western Canada-based ATB Financial has made a significant move by closing the acquisition of BCV Asset Management, a Manitoba-based portfolio management firm. With over C.8bn (.11bn) in assets under management, BCV now becomes a standalone subsidiary of ATB Financial. This acquisition was first agreed upon in September 2024. Under ATB, BCV will continue to operate under its established brand identity and maintain its headquarters in Winnipeg. The leadership and portfolio management teams of BCV will remain intact, ensuring a seamless transition.BCV was founded in 2007 and provides tailored investment solutions through separately managed accounts. It offers personalised wealth management services to high-net-worth investors seeking alternatives to conventional investment products. The firm's history of growth includes the 2021 acquisition of two Winnipeg-based firms, Antares Investment Management and Nelson Portfolio Management.ATB Financial president and CEO Curtis Stange expressed his delight, stating, "I am pleased to officially welcome BCV Asset Management to ATB Financial. Coming together presents an opportunity to leverage the collective experience and expertise for the benefit of our clients. BCV's proven track record and customised approach to portfolio management complement ATB Financial's vision for growth and delivering personalised financial solutions to clients across Canada."BCV Asset Management founder and CEO Tony Demarin also emphasized, "BCV Asset Management will continue to operate with the same experienced leadership and portfolio management team, and proven strategies that have delivered exceptional results for our clients across Canada."ATB Financial, with C.3bn (.55bn) in assets and a team of over 5,000, serves more than 820,000 clients through various channels such as branches, digital banking, and a 24-hour Client Care Centre. Advisory services for the acquisition were provided by Ernst & Young Orenda Corporate Finance and Borden Ladner Gervais, while BCV's advisory team included Deloitte Corporate Finance, D’Arcy & Deacon, and MLT Aikins.Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research and gain a competitive edge. You can view profiles in store. Thank you! Your download email will arrive shortly. We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form. By GlobalData.Tick here to opt out of curated industry news, reports, and event updates from Private Banker International. I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the privacy policy. Submit and download. Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.Sign up for our daily news round-up! Give your business an edge with our leading industry insights.
