Financial institution Desjardins plans to acquire Guardian Capital in a significant deal valued at 1.67 billion Canadian dollars.
Desjardins Group, a leading financial group based near Montreal, has announced its acquisition of Toronto-based Guardian Capital Group in an all-cash deal worth $1.67 billion CAD. This move is set to drive growth and innovation in Montreal's tech and startup sectors, as well as enhance Desjardins' position in the Canadian financial services landscape.
The acquisition reflects Desjardins' enduring commitment to innovation, excellence, and long-term value creation. The combined entity aims to build a leading platform with the scale, capabilities, and reach to serve investors in Canada and around the world.
Guardian serves institutional, retail, and private clients through its subsidiaries. Desjardins offers products and services to individuals and businesses through its distribution network, online platforms, and Canadian subsidiaries. The acquisition will combine the two organizations' strengths and footprint, enabling the newly combined firm to operate as a more dynamic and competitive asset management platform.
Following the acquisition, the consolidated entity will have about $280 billion CAD in assets under management and advisement. This expanded reach is expected to attract more talent to Montreal's tech and startup job market, as Desjardins Group is currently hiring for tech and startup jobs in Montreal, with 30 job openings available.
The job openings at Desjardins Group in Montreal provide opportunities for professionals to contribute to a dynamic and competitive asset management platform. The roles encompass various roles, including software development, data analysis, and project management positions. The acquisition offers opportunities for professionals to work on a global scale, given the combined entity's ambition to serve investors worldwide.
Desjardins Group president and CEO, Guy Cormier, stated that the acquisition will strengthen Desjardins' position in the Canadian financial services landscape. He also emphasised that the acquisition will benefit from expanded reach and enhanced investment solutions for the public and private markets.
The acquisition of Guardian Capital Group has the potential to drive growth and innovation in Montreal's tech and startup sectors. With the expanded workforce in Montreal, Desjardins Group is demonstrating its commitment to the city and its tech ecosystem. As a financial group that offers employment opportunities for individuals seeking careers in tech and startup industries, Desjardins Group is poised to make a significant impact in the city's tech and startup job market.
The official completion date of the merger between Desjardins Group and Guardian Capital Group is yet to be announced. However, the acquisition is expected to be a strategic move that will position Desjardins as a leading player in the Canadian financial services industry.
