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Money TD Bank buys Saskatchewan-based money manager Greystone for $792M

19:52  10 july  2018
19:52  10 july  2018 Source:   cbc.ca

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TD Bank has signed a deal to acquire Saskatchewan - based money manager Greystone Managed Investments Inc. in a stock-and-cash agreement worth Greystone , which has nearly 200 employees, will be rebranded as TD Greystone Asset Management and will continue to operate from Regina.

TD Bank has signed a deal to acquire Saskatchewan - based money manager Greystone Managed Investments Inc. in a stock-and-cash agreement worth roughly $ 792 million. The proposed deal between TD and the money manager 's parent company Greystone Capital Management Inc. is

a close up of a sign: The deal makes TD the largest money manager in the country, in terms of Canadian assets. © Mark Lennihan/Associated Press The deal makes TD the largest money manager in the country, in terms of Canadian assets.

TD Bank has signed a deal to acquire Saskatchewan-based money manager Greystone Managed Investments Inc. in a stock-and-cash agreement worth roughly $792 million.

TD says the addition of Greystone's $36 billion in assets under management will make TD Asset Management the largest money manager in the country, based on Canadian assets.

The bank's group head of wealth management and TD insurance Leo Salom says the acquisition beefs up its expertise in alternative investments such as real estate, mortgages and infrastructure.

The proposed deal between TD and the money manager's parent company Greystone Capital Management Inc. is expected to close in the second half of this year.

It is expected to bring TD's Canadian assets under management at the bank to roughly $393 billion.

Greystone, which has nearly 200 employees, will be rebranded as TD Greystone Asset Management and will continue to operate from Regina.

Number of Sask. people behind on mortgages at 26-year high .
The number of people in Saskatchewan behind on their mortgages is the highest it has been since 1992, according to a new report from the Canadian Bankers Association. In a report released this week, the CBA said 0.79 per cent of residential mortgages in Saskatchewan are in arrears — or overdue by three or more months — as of March 2018. This is the highest rate of overdue mortgages in the province since 1992.

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