National Bank Completes Acquisition of Full Service Investment Advisory Business of HSBC Securities (Canada) Inc.
Montréal, 4 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. To access
National Bank's financial education portal,
visit.
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.
Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Claude Breton
Senior Manager, Public Affairs
National Bank
Tel: 514-394-8644
Hélène Baril
Director, Investor Relations
National Bank
Tel: 514-394-0296
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