Macquarie acquisition grows planner presence in Canada
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Macquarie Group remains acquisitive, announcing today that it had picked up an independent Canadian investment dealer, Blackmont Capital.
Macquarie announced to the Australian Securities Exchange (ASX) today that it had entered into an agreement to acquire Blackmont Capital from CI Financial for CAD$93.3 million.
It said the acquisition would provide Macquarie with an established and growing Canadian wealth management business and would add additional retail distribution to Macquarie’s existing capital markets and product offerings in Canada.
Macquarie described Blackmont as one of the largest independent, full service investment dealers in Canada.
Commenting on the acquisition, Macquarie Banking and Finance Group head Peter Maher said the transaction allowed Macquarie the opportunity to work with a strong leadership and adviser team, build its client offering and add further quality advisers.
He said Blackmont would be rebranded as Macquarie Private Wealth.
AUTHOR
Mike Taylor
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