Canadian Underwriter

TD Bank to acquire Greystone Managed Investments for $792 million

July 10, 2018   by Armina Ligaya, The Canadian Press

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Mergers_1Toronto-Dominion Bank will buy Saskatchewan-based Greystone Managed Investments Inc. for roughly $792-million in stock and cash, a transaction which the bank says makes its asset management division the biggest money manager in Canada.

Acquiring the institutional money manager will add another $36 billion in Canadian assets under management and expertise in real estate, mortgages and infrastructure investments as competition in the industry heats up, said Leo Salom, TD’s group head of wealth management and TD Insurance.

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This story was originally published by Canadian Insurance Top Broker.