TechDogs-"ATB Financial To Acquire Leading Manitoba Portfolio Management Firm, BCV Asset Management Inc."

Financial Technology

ATB Financial To Acquire Leading Manitoba Portfolio Management Firm, BCV Asset Management Inc.

By PR Newswire

PR Newswire
Overall Rating

ATB Financial continues its focus on client experience through expanded wealth management expertise

EDMONTON, AB, Sept. 26, 2024 /CNW/ - ATB Financial, the largest financial institution headquartered in Western Canada, announced today that they have entered into an agreement to acquire BCV Asset Management Inc. ("BCV"), a leading Manitoba-based portfolio management firm with combined assets of over $5.8 billion under management.

Founded in 2007, BCV has a proven track record of delivering exceptional results in building and protecting clients' wealth. BCV offers customised investment portfolios specifically for a client's unique needs, allowing for a tailored investment strategy.

As a standalone subsidiary of ATB Financial, BCV will continue to implement the successful business model, strategies, and products that have solidified its position as a leading portfolio management firm with clients across Canada. With a growing client base and a sustained record of growth and success, BCV will continue to be headquartered in Winnipeg and retain its established brand identity. The company's highly skilled leadership and portfolio management teams will remain in place to ensure continuity and dedicated client service.

This strategic acquisition, expected to close this fall pending customary closing conditions including required regulatory approvals, continues ATB Financial's expansion of its wealth management business. ATB Wealth, the wealth management division of ATB Financial, reached record-high assets under administration, totalling $28.6 billion at the end of its first-quarter of fiscal year 2025 and has opened offices in Saskatchewan and British Columbia.

"ATB Financial has been pursuing new opportunities to partner with leading firms that will create long-term value for our clients," said Curtis Stange, President & CEO of ATB Financial. "We're excited to come together with BCV, a profitable, dynamic and growing portfolio management firm that shares the same values that ATB Financial does about our clients and our teams. ATB is impressed with how BCV delivers value for clients, how efficiently they operate and the way BCV drives growth. Coming together is an opportunity to leverage the collective experience and expertise for the benefit of our clients."

"BCV is excited to work with ATB Financial, and through collaboration, unlock new growth potential and opportunities for our team," said Tony Demarin, Founder & CEO, BCV." BCV remains committed to delivering the same high level of service to clients. We will continue to operate with the same experienced leadership and portfolio management team and proven strategies that have supported our ongoing success."

ATB Financial was advised by Ernst & Young Orenda Corporate Finance Inc. and Borden Ladner Gervais LLP. BCV was advised by Deloitte Corporate Finance Inc., D'Arcy & Deacon LLP and MLT Aikins.

About ATB Financial

With $62.0 billion in assets, ATB Financial is a leading financial institution that started in Alberta with the focus of putting people first. Our success comes from our more than 5,000 team members who love to deliver exceptional experiences to over 820,000 clients across our Personal and Business Banking, ATB Wealth Management and ATB Capital Markets businesses. ATB provides expert advice, services and products through our many branches and agencies, our 24-hour Client Care Centre, four entrepreneur centres and our digital banking options. ATB powers possibilities for our clients, communities and beyond. More information about ATB can be found at atb.com.

About BCV Asset Management Inc.

BCV, founded in 2007, is a client-focused portfolio management firm offering customised investment solutions through Separately Managed Accounts. BCV's experienced team provides personalised wealth management services to high-net-worth investors seeking alternatives to traditional investment products. In 2021, BCV expanded its operations by acquiring two Winnipeg-based firms, Antares Investment Management, Inc. and Nelson Portfolio Management Corp., bringing combined assets under management to over $5.8 billion. BCV is dedicated to building and protecting client wealth through professional, tailored financial strategies.

For more information or interview requests, please contact:

Craig Loewen, Director, Western Canada, Global Public Affairs

cloewen@globalpublic.com

SOURCE ATB Financial

First published on Fri, Sep 27, 2024

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