Laurentian Bank of Canada sells retail brokerage operation, including $2B in client assets, to iA Financial Group.

Laurentian Bank of Canada is selling its retail brokerage operation with $2B in client assets to Montreal-based financial services giant iA Financial Group. The deal includes the transfer of about 16,000 client accounts and around 30 securities-licensed investment advisers to iA subsidiary iA Private Wealth later this year. Financial details of the transaction were not disclosed. Laurentian Bank aims to focus on simplification and concentrating on areas where it can be more competitive following the deal.

April 04, 2024
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