TORONTO, Dec. 16, 2020 (Globe NEWSWIRE) — Guardian Money Group Confined (Guardian) (TSX:GCG) (TSX:GCG) and The Bank of New York Mellon Corporation (BNY Mellon), today announced they have reached an agreement under which Guardian will receive BNY Mellon Prosperity Management, Advisory Products and services, Inc. (WMAS), BNY Mellon’s Canadian-centered wealth management company.
The acquisition provides a lot more than $5.5 billion of property under advisement, of which a massive part relates to belongings administered on behalf of extremely-substantial web worth family members, and expands Guardian’s recent core prosperity administration capabilities in the extremely-significant web worthy of and spouse and children business phase. WMAS was a pioneer in making the multi-family office and endowment provider in Canada, and Guardian is proud to be continuing this wealthy custom. Guardian’s very long standing presence and commitment to serving the desires of buyers in Canada enhance the historical past proven by the BNY Mellon Prosperity company and its predecessors.
“We are psyched to have WMAS sign up for Guardian. WMAS is a high-quality corporation that enhances our approach and values. Our heritage of performing with extremely-significant web value people, and the consistency of our method and ideas will pave the way ahead with each other,” claimed George Mavroudis, President and Main Govt Officer, Guardian. “We continue to glimpse for strategies to enhance our presenting to this underserved current market phase, and this transaction underscores our expansion approach.”
“We believe that Guardian Money will be a fantastic steward to enable make investments and develop the WMAS small business,” claimed Catherine Keating, CEO of BNY Mellon Wealth Administration. “WMAS’s management in financial commitment tips and OCIO solutions supported by Guardian’s 60 calendar year keep track of record in asset and wealth administration are a powerful blend for our Canadian clients and colleagues.”
Guardian is acquiring the Toronto-centered enterprise from Mellon Canada Holding Business, a subsidiary of BNY Mellon, a international investment decision business based mostly in New York. The transaction is matter to regulatory approvals and is predicted to close in the very first quarter of 2021.
For more information, be sure to contact:
Angela Shim
416-947-8009
About Guardian Capital Group Constrained
Guardian Funds Team Constrained is a diversified money solutions organization launched in 1962. Guardian operates in two key organization locations, Asset Management and Economical Advisory. As at September 30, 2020, Guardian experienced C$32.7 billion of assets underneath administration and C$20.8 billion of assets beneath administration. Guardian presents institutional and non-public wealth financial investment administration expert services money products and services to international traders expert services to economical advisors in its countrywide mutual fund supplier, securities seller, and insurance plan distribution community and maintains and manages a proprietary investment portfolio, which experienced a truthful current market price of C$552 million at September 30, 2020. Its Typical and Course A shares are listed on the Toronto Stock Exchange in 2019, Guardian celebrated 50 many years as a listed company. To learn additional about Guardian, pay a visit to www.guardiancapital.com.
About BNY Mellon Wealth Administration
For far more than two hundreds of years, BNY Mellon Prosperity Administration has presented expert services to economically successful people today and family members, their family places of work and small business enterprises, prepared supplying programs, and endowments and foundations. It has $265 billion in overall client property, as of September 30, 2020, and an substantial network of offices in the U.S. and internationally. BNY Mellon Prosperity Administration, which provides leading wealth suggestions across investments, banking, custody, and prosperity and estate preparing, conducts small business by means of various operating subsidiaries of The Financial institution of New York Mellon Company. For far more information, pay a visit to www.bnymellonwealth.com or observe us on Twitter @BNYMellonWealth.
About BNY Mellon
BNY Mellon is a world-wide investments organization devoted to serving to its purchasers manage and support their economical property all through the investment lifecycle. Whether or not delivering monetary solutions for institutions, businesses or unique traders, BNY Mellon delivers knowledgeable investment and prosperity administration and expense companies in 35 nations around the world. As of September 30, 2020, BNY Mellon had $38.6 trillion in assets below custody and/or administration, and $2. trillion in belongings under management. BNY Mellon can act as a single point of contact for clientele hunting to make, trade, hold, regulate, service, distribute or restructure investments. BNY Mellon is the company brand of The Bank of New York Mellon Corporation (NYSE:BK). Further information is offered on www.bnymellon.com. Abide by us on Twitter @BNYMellon or go to our newsroom at www.bnymellon.com/newsroom for the hottest enterprise information.
This push launch is made up of forward-wanting statements with regard to Guardian Funds Group Constrained and its solutions and services, like its enterprise functions and method and economic efficiency and situation. Whilst management believes that the anticipations reflected in these types of forward-hunting statements are affordable, these kinds of statements require pitfalls and uncertainties. Real benefits may well differ materially from individuals expressed or implied by this kind of forward-seeking statements. Things that could bring about precise results to differ materially from expectations involve, amid other things, general economic and marketplace factors, including fascination premiums, small business competition, improvements in federal government regulations or in tax legislation, and other factors mentioned in materials submitted with applicable securities regulatory authorities from time to time.
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