Western Canada-based ATB Financial has closed the acquisition of BCV Asset Management, a Manitoba-based portfolio management firm.
BCV, with over C$5.8bn ($4.11bn) in assets under management, is now a standalone subsidiary of ATB Financial.
In September 2024, ATB Financial first entered into an agreement to acquire BCV.
As part of ATB, BCV will continue to operate under its established brand identity and maintain its headquarters in Winnipeg.
BCV’s leadership and portfolio management teams will remain intact.
Founded in 2007, BCV provides tailored investment solutions through separately managed accounts. It offers personalised wealth management services to high-net-worth investors seeking alternatives to conventional investment products.
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BCV’s history of growth includes the 2021 acquisition of two Winnipeg-based firms, Antares Investment Management and Nelson Portfolio Management.
BCV Asset Management founder and CEO Tony Demarin said: “BCV Asset Management will continue to operate with the same experienced leadership and portfolio management team, and proven strategies that have delivered exceptional results for our clients across Canada.”
ATB Financial president and CEO Curtis Stange said: “I am pleased to officially welcome BCV Asset Management to ATB Financial. Coming together is an opportunity to leverage the collective experience and expertise for the benefit of our clients.
“BCV’s proven track record and customised approach to portfolio management complement ATB Financial’s vision for growth and delivering personalised financial solutions to clients across Canada.”
Advisory services for the acquisition were provided to ATB Financial by Ernst & Young Orenda Corporate Finance and Borden Ladner Gervais.
BCV’s advisory team included Deloitte Corporate Finance, D’Arcy & Deacon, and MLT Aikins.
ATB Financial, with C$62.3bn ($44.55bn) in assets, has a team of over 5,000. It serves more than 820,000 clients through various channels including branches, digital banking, and a 24-hour Client Care Centre.
