the entire wealth management advisory division to Royal Bank of Canada.
“Gluskin Sheff was worth a billion dollars… [around] 12 years ago, then Onex bought them for $400 [million] and change. Now it's worth zero,” Gluskin said. “We had, in the old days, high fees and high performance and periods when it wasn't so great. But then we'd come back. We had a very lot of very smart people.”
At the time of the acquisition, Onex Chairman and Chief Executive Officer Gerry Schwartz stated the deal was complementary for both firms and that it planned to maintain the existing management team and brand.
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