News Formal

IGM Financial enters U.S. wealth market with US$622M Rockefeller deal - BNN Bloomberg

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 50%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

IGM Financial Inc. is entering the U.S. wealth management market by buying a large stake in Rockefeller Capital Management.

The wealth management firm, which oversees the management of $258 billion in assets, and is a subsidiary of the Power Corporation of Canada, purchased a 20.5 per cent stake in Rockefeller for approximately US$622 million,. This deal makes IGM the second largest shareholder in Rockefeller and increases its access to ultra-high-net-worth clients in the U.S.

He added that the move is a strategic opportunity that has the potential to drive meaningful earnings growth for IGM over time. The sale of IPC was a great move for IGM, one financial expert told BNN Bloomberg in an interview on Tuesday.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canada Life purchases wealth manager IPC from sister company IGM FinancialThe deal will see Canada Life add more than 650 investment advisers who manage about $32-billion in assets
Source: globeandmail - 🏆 5. / 92 Read more »

Canada Life buying Investment Planning Counsel business from IGM Financial - BNN BloombergThe Canada Life Assurance has signed a deal to acquire wealth management firm Investment Planning Counsel Inc. from IGM Financial for $575 million.
Source: BNNBloomberg - 🏆 83. / 50 Read more »