Press release from CNW Group
B2B Bank and AGF Trust formally merge
Tuesday, September 03, 2013
B2B Bank and AGF Trust formally merge09:46 EDT Tuesday, September 03, 2013
TORONTO, Sept. 3, 2013 /CNW Telbec/ - B2B Bank is pleased to announce that, effective September 1, 2013, its amalgamation with AGF Trust Company has been completed. The operations of the two companies will now be joined under the B2B Bank brand.
With the completion of the legal merger, the two firms can now make accelerated progress in integrating their activities, harmonizing products and services and transitioning client accounts. "This marks a special milestone for our bank," said Mr. François Desjardins, President and Chief Executive Officer of B2B Bank. "With the acquisitions of AGF Trust and MRS Trust earlier, we have added considerable breadth and depth to our organization. B2B Bank is now firmly positioned for growth across all lines of business." According to Mr. Desjardins, "Because our firms have a similar advisor and broker-focused business model, we are able to deliver an even more comprehensive range of products and services to financial professionals, serving Canadians from coast-to-coast."
"I would like to take this opportunity to express how grateful I am for the ongoing support that we have received from the dealers, brokers, fund manufactures and advisors who work with us and our accountholders every day. I can assure them that our employees will maintain their tireless efforts to provide them with the level of service they deserve and support them in the integration process."
With this latest merger complete, B2B Bank now serves some 900,000 accountholders and has a workforce of over 800 employees with business development representation from coast to coast.
About B2B Bank
B2B Bank is a leading provider of banking products to more than 27,000 financial advisors and brokers across Canada. Through the professional advisor and broker channels, it offers a broad range of products and services to consumers including: investment and RRSP loans, mortgages, GICs, banking services, and investment accounts and services through B2B Bank Dealer Services. B2B Bank has been proudly dedicated to serving the needs of its clients for more than a decade, and it continues to provide innovative products and solutions that help advisors and brokers build rewarding relationships with their clients.
B2B Bank is a Schedule I bank with more than $13 billion in consumer deposits, $9 billion in loans and mortgages, and more than $24 billion in assets under administration. B2B Bank is a member of industry associations serving the financial community and is also a member of the Canada Deposit Insurance Corporation (CDIC). For more information please visit b2bbank.com.
SOURCE: Laurentian Bank of Canada
For further information:
Public Affairs, Communications and Investors Relations
B2B Bank / Laurentian Bank