Transaction|January 3, 2012
National Bank completes acquisition of full service investment advisory business of HSBC Securities (Canada) Inc.
Torys acted as counsel to National Bank of Canada with a team that included Michael Pickersgill, Sharon Geraghty, Peter Bryce, Dean Kotwal, Miriam Levin, John Unger, Saira Bhojani, Dan Logan, Ebad Rahman, Mitch Frazer, Reesha Hosein, Christine Vogelesang, Blair Keefe, Omar Wakil, Damien Liddle, Joel Wiesenfeld, Sabrina Gherbaz and Peter Keenan.
On January 3, 2012, National Bank of Canada (National Bank) announced the completion of its acquisition of the full service investment advisory business of HSBC Securities (Canada) Inc. (HSBC Securities) and certain assets related to the segregated fund and insurance business of HSBC Securities Insurance Agency (Canada) Inc.
Under the terms of the agreement reached in September 2011, National Bank agreed to pay C$206 million in cash to HSBC Bank Canada, subject to certain customary adjustments. An additional amount was set aside to ensure maximum retention of investment advisors.
National Bank of Canada is a Canada-based bank and is an integrated provider of financial services to retail, commercial, corporate and institutional clients.
HSBC Bank Canada provides personal and commercial banking services, global banking and market services, retail brokerage, wealth management, personal trust services and consumer finance services.
Further information can be found on Marketwire's website.
Under the terms of the agreement reached in September 2011, National Bank agreed to pay C$206 million in cash to HSBC Bank Canada, subject to certain customary adjustments. An additional amount was set aside to ensure maximum retention of investment advisors.
National Bank of Canada is a Canada-based bank and is an integrated provider of financial services to retail, commercial, corporate and institutional clients.
HSBC Bank Canada provides personal and commercial banking services, global banking and market services, retail brokerage, wealth management, personal trust services and consumer finance services.
Further information can be found on Marketwire's website.