December 9, 2022

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Guardian Capital Group Constrained to Purchase BNY Mellon’s Canadian Prosperity Management Enterprise

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TORONTO, Dec. 16, 2020 (Globe NEWSWIRE) — Guardian Capital Group Minimal (Guardian) (TSX:GCG) (TSX:GCG.A) and The Lender of New York Mellon Company (BNY Mellon), nowadays announced they have arrived at an agreement beneath which Guardian will obtain BNY Mellon Wealth Management, Advisory Products and services, Inc. (WMAS), BNY Mellon’s Canadian-dependent wealth administration business enterprise.

The acquisition provides far more than $5.5 billion of belongings less than advisement, of which a huge part relates to property administered on behalf of extremely-superior net worth family members, and expands Guardian’s present main prosperity management capabilities in the ultra-significant net well worth and loved ones office environment section. WMAS was a pioneer in developing the multi-family business office and endowment services in Canada, and Guardian is proud to be continuing this rich tradition. Guardian’s prolonged standing presence and determination to serving the desires of buyers in Canada enhance the heritage established by the BNY Mellon Prosperity organization and its predecessors.

“We are energized to have WMAS be part of Guardian. WMAS is a top quality firm that enhances our tactic and values. Our heritage of operating with extremely-significant internet truly worth households, and the consistency of our solution and concepts will pave the way forward collectively,” said George Mavroudis, President and Chief Executive Officer, Guardian. “We continue to appear for strategies to greatly enhance our providing to this underserved industry phase, and this transaction underscores our development technique.”

“We believe Guardian Money will be a good steward to help invest and improve the WMAS business enterprise,” claimed Catherine Keating, CEO of BNY Mellon Prosperity Management. “WMAS’s management in financial investment suggestions and OCIO companies supported by Guardian’s 60 year keep track of record in asset and prosperity management are a persuasive mix for our Canadian customers and colleagues.”

Guardian is attaining the Toronto-centered business from Mellon Canada Keeping Business, a subsidiary of BNY Mellon, a worldwide investment decision enterprise primarily based in New York. The transaction is subject matter to regulatory approvals and is anticipated to near in the 1st quarter of 2021.

For further more facts, be sure to call:

Angela Shim
416-947-8009

About Guardian Funds Group Constrained

Guardian Cash Team Limited is a diversified economic companies organization founded in 1962. Guardian operates in two main organization spots, Asset Administration and Economical Advisory. As at September 30, 2020, Guardian experienced C$32.7 billion of property less than management and C$20.8 billion of belongings below administration. Guardian offers institutional and private prosperity financial investment management solutions economical providers to worldwide investors solutions to economic advisors in its national mutual fund supplier, securities seller, and insurance distribution community and maintains and manages a proprietary investment portfolio, which had a good sector worth of C$552 million at September 30, 2020. Its Typical and Course A shares are stated on the Toronto Stock Exchange in 2019, Guardian celebrated 50 a long time as a listed enterprise. To master additional about Guardian, check out www.guardiancapital.com.

About BNY Mellon Prosperity Administration

For far more than two centuries, BNY Mellon Wealth Management has delivered companies to fiscally productive folks and family members, their household workplaces and organization enterprises, planned offering courses, and endowments and foundations. It has $265 billion in full shopper assets, as of September 30, 2020, and an comprehensive network of workplaces in the U.S. and internationally. BNY Mellon Wealth Management, which delivers top prosperity advice throughout investments, banking, custody, and wealth and estate preparing, conducts organization by way of various running subsidiaries of The Financial institution of New York Mellon Company. For much more information, go to www.bnymellonwealth.com or observe us on Twitter @BNYMellonWealth.

About BNY Mellon

BNY Mellon is a world investments business devoted to helping its clients control and services their money belongings all over the expense lifecycle. No matter if giving financial companies for institutions, corporations or individual investors, BNY Mellon provides educated financial commitment and prosperity management and financial commitment products and services in 35 international locations. As of September 30, 2020, BNY Mellon experienced $38.6 trillion in property below custody and/or administration, and $2. trillion in belongings beneath management. BNY Mellon can act as a single point of call for clients wanting to develop, trade, hold, control, provider, distribute or restructure investments. BNY Mellon is the company brand name of The Lender of New York Mellon Company (NYSE: BK). Further info is accessible on www.bnymellon.com. Stick to us on Twitter @BNYMellon or pay a visit to our newsroom at www.bnymellon.com/newsroom for the most up-to-date business news.

This press launch has forward-hunting statements with regard to Guardian Capital Group Restricted and its items and products and services, together with its small business operations and method and monetary performance and condition. Though administration believes that the anticipations mirrored in this sort of ahead-wanting statements are realistic, such statements require risks and uncertainties. Real outcomes may differ materially from those people expressed or implied by such ahead-searching statements. Variables that could bring about precise outcomes to vary materially from anticipations include, amongst other factors, common economic and market elements, such as interest rates, company competition, variations in govt restrictions or in tax guidelines, and other elements talked about in materials submitted with applicable securities regulatory authorities from time to time.

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