The FINANCIAL -- BNY Mellon, one of the leading global financial services companies, has completed its purchase of I3 Advisors of Toronto, an independent wealth strategy company with more than C$3.8 billion in assets under advisement.
"This transaction represents BNY Mellon’s first wealth management acquisition in Canada. Terms of the deal were not disclosed," BNY Mellon reported.
“This partnership enables BNY Mellon and I3 to provide even greater service and trusted guidance to help our clients achieve their financial goals," said BNY Mellon Wealth Management CEO Larry Hughes . "Together, we will be able to build on the success of I3 to offer a whole new level of service to wealthy investors. Canada’s high net-worth market represents a very attractive opportunity for BNY Mellon as we accelerate our global expansion and seize new opportunities in dynamic markets.”
June Ntazinda remains CEO of I3 Advisors and reports to BNY Mellon Wealth Management Executive Vice President Don Heberle, who oversees the firm’s international business. “June and the I3 team are well-known and highly respected in Canada and we look forward to bringing additional research capabilities in alternatives investments and services to their clients.”
“BNY Mellon Wealth Management is the ideal partner for us not only because of our shared commitment to client service, but also because of BNY Mellon's powerful global resources,” Ntazinda said. “Working together we aim to broaden and enhance I3’s investment services and fuel the next phase of the firm’s growth.”
Ntazinda noted that the transaction will offer several advantages to I3 clients, including:
global asset management opportunities
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