BMO to Acquire Burgundy Asset Management

BMO Financial Group to Acquire Bank of the West for $16.3 Billion

December 20, 2021

Financial Services

BMO Financial Group, together with its subsidiary BMO Harris Bank N.A., signed a definitive agreement to purchase Bank of the West and its subsidiaries from BNP Paribas. The $16.3 billion cash deal is expected to close by the end of calendar 2022, subject to customary regulatory approvals, and will expand BMO’s U.S. presence—especially in California.

ABN AMRO to Acquire NIBC Bank From Blackstone in €960 Million Deal

November 12, 2025

Financial Services

ABN AMRO agreed to acquire NIBC Bank from Blackstone for an estimated €960 million (0.85x book value), strengthening ABN AMRO’s retail and commercial banking presence in the Netherlands. The deal is expected to close in the second half of 2026, subject to regulatory approvals and works council consultations, and includes integration steps such as merging certain mortgage entities and refocusing mortgage brand strategy.

Nomura Acquires Macquarie's U.S. & European Public Asset Management Business

April 22, 2025

Wealth Management

Nomura has agreed to acquire Macquarie Asset Management’s North American and European public asset management business (including equities, fixed income and multi‑asset strategies) in an all‑cash transaction for roughly US$1.8 billion, subject to closing adjustments and regulatory approvals. The business—led from Philadelphia with more than 700 employees and approximately US$180 billion of AUM—will join Nomura’s Investment Management division, and the firms will also enter a broader product and distribution collaboration.

U.S. Bancorp to Acquire BTIG in up to $1 Billion Bolt-On Deal

January 12, 2026

Financial Services

U.S. Bancorp announced it has signed a definitive agreement to acquire BTIG, a privately held investment bank and brokerage firm, in a bolt-on transaction valued at up to $1 billion. The deal is designed to expand U.S. Bancorp’s capital markets capabilities, including institutional equity sales and trading, equity capital markets, electronic equity trading, and M&A advisory.

Manulife Investment Management Acquires CQS

April 3, 2024

Financial Services

Manulife Investment Management has completed its acquisition of multi-sector alternative credit manager CQS after receiving U.K. Financial Conduct Authority approval. The CQS brand will be co-branded as Manulife | CQS Investment Management, with Soraya Chabarek remaining CEO; financial terms were not disclosed.

National Bank of Canada to Acquire Canadian Western Bank

June 11, 2024

Financial Services

National Bank of Canada entered into a definitive agreement to acquire all outstanding common shares of Canadian Western Bank in a share-exchange transaction valuing CWB at approximately $5.0 billion. The deal (exchange ratio 0.450 NB shares per CWB share) expands National Bank's footprint in Western Canada, is expected to close by the end of 2025 subject to shareholder and regulatory approvals, and is supported by an approximately $1.0 billion equity financing including a private placement to CDPQ.