Toronto-based Aston Hill Financial Inc. is selling its securities arm to Toronto-based Brant Securities Ltd.
The sale of Aston Hill Securities Inc., which was announced on Friday, is expected to be completed on or about March 31, but is subject to certain closing conditions including regulatory approval.
Brant Securities is an independent brokerage firm that is completely owned by its employees.
Aston Hill entered the retail distribution channel in 2012, when it bought Halifax-based Citadel Securities Inc., which was renamed Aston Hill Securities Inc.
This is the latest in a series of changes at Aston Hill Financial. The asset manager welcomed James Werry, formerly of Toronto-based ScotiaMcLeod Inc. and Toronto-based Richardson GMP Ltd., to the role of CEO and president in February. Derek Slemko, the firm’s chief financial officer, also took on the role of chief operating officer in December following Neil Murdoch’s retirement.