Acquisition of three Desjardins Securities branches by 3Macs translates into new opportunities for both businesses
TORONTO, September 2, 2014 /CNW Telbec/ - Following their agreement announcement on June 18, 2014, 3Macs has completed their acquisition of three Ontario branches of Desjardins Securities. The two firms will continue to work together to grow their businesses. The transaction gives 3Macs advisors access to Desjardins wealth management products and provides Desjardins an opportunity to exercise a minority ownership interest in 3Macs in the coming year. The completion of this transaction will enhance the footprint of 3Macs in Ontario and allow Desjardins to distribute its products more widely across the country.
With the closing of the deal, 3Macs is looking forward to providing more Canadians with the support they need to reach their comprehensive wealth management needs. "We're very excited about this next stage in our long history. Not only are we welcoming a great new team to our family, but we're also strengthening our position as a leading, independent wealth management firm," said Randy Ambrosie, President and Chief Executive Officer. 3Macs is founded on the quality of its advisors and employees, many of whom are owners in the business. "We believe that equity ownership fosters teamwork by providing a unified voice – ultimately making us a more client-centric firm."
"We're happy that the process is now done and we look forward to supporting and participating in 3Macs' future growth," said Vincent Hogue, Senior Vice-President and Head of Private Client Services at Desjardins Securities. "As we are committed to growing across Canada, this agreement is giving us more opportunities to expand the distribution of our products."
A Canadian success story that's been around longer than Canada, MacDougall, MacDougall & MacTier Inc. (3Macs) is the country's most established wealth management firm. With roots dating back to 1849, 3Macs has remained fiercely independent in its outlook, confident in its convictions and steady of course. Beginning with the belief that a client's interests are best served through careful analysis of their current situation, future goals and individual circumstances, 3Macs is home to some of Canada's most experienced advisors, who provide custom-tailored solutions and highly personalized wealth planning. As a result of this process, 3Macs' adherence to meeting the specific needs of their clients has created a niche for any investor seeking a more comprehensive approach to wealth management. The fact that these same principles have guided 3Macs' business process over the course of more than 160 years – while remaining ahead of the curve and delivering on clients' goals – speaks volumes. Let us show you how. www.3Macs.com. 3Macs is a member of the Canadian Investor Protection Fund. www.CIPF.ca
About Desjardins Securities
Desjardins Securities, the brokerage firm of Desjardins Group, has been offering a growing range of products and services tailored to individuals, corporate and institutional investors since 1991. With more than $30 billion in assets under administration, it offers a wide range of products and services to individuals through its network of investment advisors or through its online discount brokerage division. Its 250 expert financial advisors are dedicated to helping their clients become financially independent. The firm also offers a full range of corporate finance, advisory services, fixed income and equity trading products to corporate clients, institutional investors and government agencies. For more information, visit www.ds.ca.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the fourth largest cooperative financial group in the world with assets of $222 billion. It has been rated one of Canada's top 100 employers by Mediacorp Canada. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. The group has one of the highest capital ratios and credit ratings in the industry. It is considered as the fourth safest and strongest bank in North America according to Global Finance magazine and the first according to Bloomberg News. Desjardins Group and the International Co-operative Alliance will co-host the 2014 International Summit of Cooperatives (October 6 to 9) to be held in Quebec City.
SOURCE: Mouvement Desjardins
For further information: Information (for journalists only): Anne Moore, 3Macs, 416 597-7950, [email protected]; André Chapleau, Media Relations, Desjardins Group, 514 281-7229 or 1 866 866-7000, ext. 7229, [email protected]