The financial services firm struck a deal in 2022 to buy Toronto-based Guardian’s life insurance and retail investment businesses. Now, Lévis, Que.-based Desjardins is buying its asset-management arm, Guardian Capital, bringing the arm’s combined assets under management to $280 billion. (The Logic)
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The financial services firm struck a deal in 2022 to buy Toronto-based Guardian’s life insurance and retail investment businesses. Now, Lévis, Que.-based Desjardins is buying its asset-management arm, Guardian Capital, bringing the arm’s combined assets under management to $280 billion. (The Logic)
Talking point: Under the deal, George Mavroudis, CEO of Guardian Capital, will lead Desjardins’ asset management business. Desjardins has been on the hunt for acquisitions, The Logic has reported, hoping to build out its property and casualty insurance business and provide potential banking customers more individualized investment plans. Guardian will help it reach the latter goal, and will also increase Desjardins’ footprint in Europe and other global markets. The deal is subject to regulatory approval and is expected to close in early 2026.
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