Acquisition means expansion of capabilities and reach for both firms
Western Canada’s largest financial institution has announced an acquisition that will expand its wealth management operations.
ATB Financial has entered into an agreement to acquire BCV Asset Management of Manitoba, a portfolio management firm with combined assets exceeding $5.8 billion and offering customised investment portfolios for clients across Canada.
It marks a continued expansion of the ATB Wealth unit which launched its first office outside Alberta less than one year ago.
BCV will operate as a standalone subsidiary of ATB, building on its 17 years in the wealth management industry, and will also remain headquartered in Winnipeg with no change to its brand identity, leadership, or portfolio management team.
"BCV is excited to work with ATB Financial, and through collaboration, unlock new growth potential and opportunities for our team," said Tony Demarin, founder and CEO of BCV." BCV remains committed to delivering the same high level of service to clients. We will continue to operate with the same experienced leadership and portfolio management team and proven strategies that have supported our ongoing success."
For ATB Financial, the acquisition continues its strategic growth of its ATB Wealth unit which achieved record high AUA at the end of its first quarter of fiscal year 2025, reaching $28.6 billion. The unit also opened new offices in Saskatchewan and BC.
“ATB Financial has been pursuing new opportunities to partner with leading firms that will create long-term value for our clients," said Curtis Stange, president and CEO of ATB Financial. "We're excited to come together with BCV, a profitable, dynamic and growing portfolio management firm that shares the same values that ATB Financial does about our clients and our teams. ATB is impressed with how BCV delivers value for clients, how efficiently they operate and the way BCV drives growth. Coming together is an opportunity to leverage the collective experience and expertise for the benefit of our clients."
