QUEBEC CITY, Jan. 23 /CNW Telbec/ - After a successful due diligence
review, Promutuel Capital, the financial services subsidiary of Groupe
Promutuel, is proud to announce that it has acquired Triglobal Capital
Management Inc.'s network of mutual funds sales representatives.
The provisional administrator of Triglobal Capital Management, Jean
Robillard of Raymond Chabot Grant Thornton, accepted the Promutuel Capital
purchase offer on Jan. 9. The transaction was approved yesterday.
The acquisition places Promutuel Capital in a favourable position in the
financial services market. In fact, the combination of Promutuel's assets
under management and those of Triglobal Capital Management makes Promutuel
Capital one of the five largest distributors of mutual funds in Québec.
" We are very pleased with the conclusion of this transaction, which
allows us to explore new avenues for the development of our financial
services, " said Mr. Claude Robitaille, CEO of Groupe Promutuel.
Promutuel Capital currently has 175 mutual funds representatives and
about $700 million in assets under management. This acquisition enables
Promutuel Capital to expand its network by about 175 representatives and by an
amount of more than $1 billion in assets under management.
" It is with great pleasure that we welcome to our team the mutual funds
representatives from Triglobal Capital Management Inc. We will make every
effort to ensure the smooth integration of each representative," said Claude
About Groupe Promutuel
Groupe Promutuel, 4th property insurer in Québec, is also active in
financial services and financial security. Recognized for its financial
strength, the high quality of its products and excellent customer service, the
Groupe has a turnover of $511 million and assets that reached the $1 billion
mark in 2006. Promutuel's mission is to promote and provide insurance products
and financial services that meet and often anticipate the expectations of
insured members and clients. To accomplish this, it ensures high-quality
personalized service and encourages the values of mutual aid that have guided
its activities for more than 150 years.
For further information:
For further information: Josée Garneau, Public Relations Adviser, (418)
683-1187, ext. 2452