National Bank Financial Acquires Groupe Financier Everest
Montreal, 7 February 2008 -
National Bank Financial, a subsidiary of National Bank of Canada, today announced that it has entered into a definitive agreement to acquire Groupe Financier Everest, a Quebec-based brokerage firm.
"We are very confident in the potential of this transaction for both our institution and our clients. Everest’s highly experienced investment advisors have an approach to asset management and commitment to providing broad-based financial advice and service that closely mirrors our own," said Richard Rousseau, Executive Vice-President and Managing Director, Individual Investor Services, National Bank Financial.
The addition of Everest’s advisors and its $550 million in client assets further strengthens National Bank Financial’s dominance in the Quebec market, and confirms its parent company’s position as the leading bank for wealth management in this province.
National Bank has been actively growing its wealth management business in markets across the country, and this acquisition is just the latest in a series of initiatives that illustrate the increasingly prominent role the Bank and its subsidiaries currently play in Canada’s financial services sector.
Jean-Pierre Duguay, President and Founder of Groupe Financier Everest said, "Joining National Bank Financial will give us the financial resources, access to innovative products and operating capacity to allow us to grow our business while continuing to provide our clients with the high level service they have come to expect. We think clients will be the big winners in this transaction, since it will allow us to focus exclusively on what we do best: helping them reach their financial goals."
About National Bank Financial
National Bank Financial is a leading Canadian full-service investment dealer with $123 billion in assets under management whose origins date back to 1902. National Bank Financial has 3,600 employees with offices and operations in Canada, Switzerland, the US and the United Kingdom. The firm offers financial services and products to private and publicly owned corporations and institutional investors, individual investors and government agencies. National Bank Financial has 84 personal wealth management offices across Canada, and is the dominant provider of third party brokerage services in the country. www.nbf.ca
About National Bank of Canada
National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has more than $113 billion in assets and, together with its subsidiaries, employs 16,863 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website at www.nbc.ca.
Information (The telephone number provided below is for the exclusive use of journalists and other media representatives.):
Director, Public Relations Department
National Bank of Canada