November 10, 2021 - 7:36 AM
TORONTO - CI Financial Corp. has signed a deal to buy Gofen and Glossberg LLC, a U.S. wealth and investment management firm focused on high-net-worth families.
Financial terms of the deal were not immediately available.
CI says Chicago-based Gofen, which was founded in 1932, will help grow its presence in the U.S. Midwest.
CI’s assets in its U.S. wealth management business are expected to reach approximately C$121 billion with the closing of the deal and other recently announced transactions.
The firm says its total assets globally are expected to reach about C$344 billion.
The deal is expected to close later this quarter, subject to regulatory and other customary closing conditions.
This report by The Canadian Press was first published Nov. 10, 2021.
Companies in this story: (TSX:CIX)
News from © The Canadian Press, 2021