August 7, 2012 / 1:17 PM / 5 years ago

CIBC to acquire MFS McLean Budden's private wealth unit

TORONTO, Aug 7 (Reuters) - Canadian Imperial Bank of Commerce has agreed to acquire MFS McLean Budden’s private wealth business, which manages about $1.4 billion in assets for high-net-worth individuals, families, endowments and foundations.

Terms of the deal, which is expected to close in the fourth-quarter of this year, were not disclosed in CIBC’s statement on Tuesday.

CIBC said the deal solidifies its position as one of Canada’s fastest growing wealth managers.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below