Alberta-based ATB Financial has entered into an agreement to acquire BCV Asset Management Inc. (BCV), a Manitoba-based portfolio management firm with more than $5.8 billion in assets under management.
As part of the deal, BCV will continue to be headquartered in Winnipeg and retain its brand. The company’s leadership and portfolio management teams will also remain in place, ATB Financial said in a release on Thursday.
The acquisition, expected to close this fall pending required regulatory approvals, expands ATB Financial’s wealth management business.
ATB Wealth reached record-high assets under administration totalling $28.6 billion at the end of its first quarter of fiscal 2025, the release said, and has opened offices in Saskatchewan and B.C.