Oakville, Ont.-based HighView Financial Group has entered into an agreement to acquire all of the outstanding shares of Toronto-based Bull Wealth Management Group Inc. from the Swiss private banking group, EFG International.
The transaction is subject to regulatory approval.
Upon closing, Jim Bull, founder, president & CEO of Bull Wealth, will join the senior management team of HighView, and be vice chairman of HighView’s board of directors. He will also continue to lead Bull Wealth.
“My team and I are extremely happy to be part of HighView, and dedicated to build HighView into the leading privately owned wealth management firm in Canada servicing affluent families and select institutions including corporations, charitable foundations, unions & pension plans,” says Bull.
“We’ve known Jim for many years and have always greatly respected the high quality asset management practice that he and his team have built over the past twelve years,” says Gary Brent, chairman & co-founder of HighView.
“With almost $2.5 billion of client assets across approximately 150 client relationships, the merger of our two firms will solidify our industry position as a leader in the outsourced chief investment officer segment in Canada, and provide us with the scale to continue to prudently grow our business both organically and through select strategic acquisitions of like-minded firms in Canada over the next several years,” adds Mark Barnicutt, co-founder of HighView, and the firm’s president & CEO.