Canadian Western Bank has closed its previously announced investment of 55% ownership in McLean & Partners Wealth Management. The finalized transaction is effective 17 May 2013.
McLean & Partners is a Calgary-based firm specializing in wealth management for high net worth individuals. With assets under management approaching $1 billion, the investment strategies and services of McLean & Partners are an excellent strategic fit with CWB’s existing banking, trust and wealth management operations.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The transaction supports a key strategic objective to enhance CWB’s revenue diversification and earnings contributions from less capital intensive sources. Specific financial details of the all-cash transaction were not released. At the outset, the transaction is not expected to have a material impact on CWB’s overall regulatory capital position or adjusted earnings per common share.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
