Canada's Fiera Expands Into US With Acquisitions

Sep 4 2013 | 8:36am ET

Canada's Fiera Capital Corporation is poised to acquire Los Angeles-based Bel Air Investments (and its affiliate Bel Air Securities) and New York-based Wilkinson O'Grady & Co for about $156.3 million as it expands its North American presence.

The acquisition will add over $8.1 billion to Fiera's assets under management bringing them to over $70 billion and $1.3 billion in consulting assets.

Bel Air, which specializes in ultra-high-net-worth clients, will be acquired for $125 million, including a maximum of $115 million in cash. The firm will operate under the Fiera Capital Private Wealth North American division, which will be led by Todd Morgan, Bel Air senior managing partner. Other members of Bel Air's management team and key personnel will also join Fiera.

Wilkinson O’Grady will be acquired for $31.25 million and key employees will join the Fiera team, inlcuding  Donald M. Wilkinson III, CEO and CIO, who becomes CIO for FCPWNA.

“We are very proud to join forces with these two experienced and highly credible teams,” said Jean-Guy Desjardins, chairman and chief executive officer of Fiera, in a statement. “We see tremendous growth potential in the U.S. private wealth and investment management market and these transactions fit perfectly with our plan to create value by becoming a leading North American investment management firm within the next five years....these acquisitions enhance our North American footprint and add depth to our investment and servicing teams.”


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of