CI Financial acquires Gofen & Glossberg

(Toronto) CI Financial announced on Wednesday it had signed an agreement to acquire Gofen & Glossberg, a US wealth management and investment firm for high net worth clients.



Financial terms of the deal were not immediately available.

CI explained that Gofen & Glossberg, founded in 1932 and based in Chicago, would help expand its presence in the US Midwest.

CI’s assets in its US wealth management operations are expected to reach approximately C $ 121 billion upon closing of the transaction and other recently announced transactions.

The company says its total assets worldwide are expected to reach around C $ 344 billion.

The transaction is expected to close later this quarter, subject to obtaining regulatory approvals and other customary closing conditions.


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