ATB Financial to acquire Manitoba firm with $5.8B in AUM

Alberta-based ATB Financial has entered into an agreement to acquire BCV Asset Management Inc. (BCV), a Manitoba-based portfolio management firm with more than $5.8 billion in assets under management.

As part of the deal, BCV will continue to be headquartered in Winnipeg and retain its brand. The company’s leadership and portfolio management teams will also remain in place, ATB Financial said in a release on Thursday.

The acquisition, expected to close this fall pending required regulatory approvals, expands ATB Financial’s wealth management business.

ATB Wealth reached record-high assets under administration totalling $28.6 billion at the end of its first quarter of fiscal 2025, the release said, and has opened offices in Saskatchewan and B.C.

Noushin Ziafati

Noushin has been the associate editor of Advisor.ca since 2024. Previously, she worked at outlets including the CBC, Canadian Press, CTV News, Telegraph-Journal and Chronicle Herald. Reach her at noushin@newcom.ca.