Western Canada-based ATB Financial has closed the acquisition of BCV Asset Management, a Manitoba-based portfolio management firm.
BCV, which has more than C$5.8bn ($4.11bn) in assets under management, has become an independent unit of ATB Financial.
In September 2024, ATB Finance entered into an agreement to acquire BCV.
As part of ATB, BCV will continue to operate under its established name and maintain its headquarters in Winnipeg.
BCV’s management and portfolio management teams will remain in place.
Founded in 2007, BCV offers tailored investment solutions through diversified managed accounts. It provides specialized wealth management services to high-net-worth investors looking for alternatives to traditional investment products.
BCV’s history of growth includes the 2021 acquisition of two Winnipeg-based firms, Antares Investment Management and Nelson Portfolio Management.
BCV Asset Management founder and CEO Tony Demarin said: “BCV Asset Management will continue to operate with the same experienced leadership and portfolio management team, and proven strategies that have delivered positive results for our clients across Canada.”
ATB Financial President and CEO Curtis Stange said: “I am delighted to officially welcome BCV Asset Management to ATB Financial. Coming together is an opportunity to develop combined knowledge and skills for the benefit of our customers.
“BCV’s proven track record and improved portfolio management practices complement ATB Financial’s vision of growth and delivery of financial solutions to clients across Canada.”
Acquisition advisory services were provided to ATB Finance by Ernst & Young Orenda Corporate Finance and Borden Ladner Gervais.
BCV’s advisory team included Deloitte Corporate Finance, D’Arcy & Deacon, and MLT Aikins.
ATB Financial, with C$62.3bn ($44.55bn) in assets, has a team of more than 5,000. It serves more than 880,000 customers through various channels including branches, digital banking, and a 24-hour Client Care Center.
“ATB Financial completes acquisition of BCV Asset Management” was originally produced and published by Private Banker International, a brand owned by GlobalData.
The information on this site is included in good faith for informational purposes only. It is not intended to amount to advice on which you should rely, and we make no representation, warranty or guarantee, either expressed or implied as to its accuracy or completeness. You should obtain professional or expert advice before taking, or refraining from, any action based on the content of our site.