News Formal

Laurentian Bank to Exit Retail Brokerage Business with $2 Billion Asset Sale

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 30 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 36%
  • Publisher: 92%

Finance Nouvelles

Laurentian Bank,Retail Brokerage,Asset Sale

Laurentian Bank is selling $2 billion of assets under administration to iA Financial Group, resulting in the transfer of 16,000 client accounts to iA Private Wealth. Additionally, around 30 securities-licensed investment advisers at Laurentian have been invited to join iA. The financial details of the transaction were not disclosed, but both parties expect the impact on their respective businesses to be minimal.

is exiting the retail brokerage business with the sale of $2-billion of assets under administration to Montreal-based financial services giant iA Financial Group

iA spokesperson Pierre Picard said the deal does not include Laurentian’s institutional brokerage business. Shortly after, Laurentian’s systems crashed during a planned technology upgrade. The outage prevented clients from accessing their accounts for four days. Mr. Provost is expected to announced a new strategic plan this spring that will include looking to expand the bank’s most profitable business, commercial lending.“This is what we need to accelerate and put our energy into understanding how can we be simpler but better with our customers,” he said in an interview in December.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 5. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Laurentian Bank inks deal to sell assets of retail investment broker divisionThe deal includes the transfer of about $2 billion in assets from Laurentian Bank Securities to iA Private Wealth Inc, a wholly owned subsidiary of iA...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Laurentian selling assets in retail investment broker division to iA Private WealthMONTREAL — Laurentian Bank has reached a deal to sell the assets of its retail full-service investment broker division to iA Private Wealth Inc.
La source: SooToday - 🏆 8. / 85 Lire la suite »