Desjardins Group, a financial group headquartered near Montreal, is acquiring Toronto-based Guardian Capital Group in an all-cash deal worth $1.67 billion CAD. The move will combine the two organizations’ strengths and footprint, enabling the newly combined firm to operate as a more dynamic and competitive asset management platform.
Guardian serves institutional, retail and private clients through its subsidiaries, and Desjardins offers products and services to individuals and businesses through its distribution network, online platforms and Canadian subsidiaries. Following the acquisition, the consolidated entity will have about $280 billion CAD in assets under management and advisement. It will also benefit from expanded reach and enhanced investment solutions for the public and private markets.
“Desjardins has a clear and focused vision for growth in asset management, and this acquisition will strengthen our position in the Canadian financial services landscape,” Guy Cormier, Desjardins Group president and CEO, said in a statement. “By combining our strengths with Guardian, we are building a leading platform with the scale, capabilities and reach to serve investors in Canada and around the world. This is more than a transaction — it’s a strategic leap that reflects our enduring commitment to innovation, excellence and long-term value creation.”
