Fiera Capital acquires the Canadian fixed income, Canadian equity and balanced
account business of UBS Global Asset Management (Canada)
MONTREAL, Dec. 11, 2012 /CNW Telbec/ - Fiera Capital Corporation ("Fiera" or
the "Firm") (TSX: FSZ) announced today that it has reached an agreement with
UBS Global Asset Management (Canada) Inc. ("UBS Global AM"), to purchase UBS
Global AM's Canadian fixed income, Canadian equity and domestic balanced
account business representing assets under management of approximately $8
billion for a cash consideration of $52 million, subject to certain
"In addition to further strengthening its superior client-driven service
approach, this transaction will reinforce Fiera's leading position in asset
management in Canada," said Jean-Guy Desjardins, Chairman and Chief Executive
Officer of Fiera. "This acquisition will also further diversify Fiera's
Canadian client base and expand its global reach."
Upon closing of the transaction, Fiera Capital becomes Canada's third largest
independent asset manager with $63 billion in assets under management,
solidifying the Firm's position as one of Canada's leading and fastest-growing
asset management firms. This transaction will immediately be accretive to
"We have selected Fiera, one of Canada's most respected asset managers, as
they can provide our clients with the high quality and competitive domestic
investment capabilities they need together with the personalized service that
they are accustomed to at UBS Global Asset Management. We are confident that
this transaction will prove to be a success for our clients and both our
firms," said Marcel Larochelle, President and Chief Executive Officer for UBS
Global Asset Management (Canada) Inc.
"We are pleased, through this transaction, to add additional depth to our
strong investment and servicing teams, providing us with the talent to further
innovate and develop tailored and competitive investment solutions in order to
meet and exceed our clients' diversified and evolving needs," added Mr.
The transaction, which is subject to customary conditions, including
regulatory approval, is expected to close in the first quarter of 2013.
Financing for the transaction was arranged through National Bank of Canada.
National Bank Financial acted as Sole Lead Arranger and Book Runner for this
About Fiera Capital Corporation
Fiera Capital Corporation is a leading publicly traded, independent investment
firm. The Firm is one of only a handful of full service, multi-product
investment firms in Canada, offering clients a proven top tier track record in
Canadian and foreign equity and fixed income management as well as depth and
expertise in asset allocation and non-traditional investments.
Additional information relating to the Firm, including the Firm's annual
information form, is on SEDAR at www.sedar.com.
About UBS Global Asset Management
UBS Global Asset Management, a business division of UBS, is a large-scale
asset manager with well-diversified businesses across regions, capabilities
and distribution channels. It offers investment capabilities and investment
styles across all major traditional and alternative asset classes. These
include equity, fixed income, currency, hedge fund, real estate,
infrastructure and private equity investment capabilities that can also be
combined in multi-asset strategies. The Fund Services unit provides
professional services including legal fund set-up, accounting and reporting
for traditional investment funds and alternative funds.
This document may contain certain forward-looking statements. These statements
relate to future events or future performance, and reflect management's
expectations or beliefs regarding future events, including business and
economic conditions and Fiera Capital's growth, results of operations,
performance and business prospects and opportunities. Such forward-looking
statements reflect management's current beliefs and are based on information
currently available to management. In some cases, forward-looking statements
can be identified by terminology such as "may", "will", "should", "expect",
"plan", "anticipate", "believe", "estimate", "predict", "potential",
"continue", "target", "intend" or the negative of these terms, or other
By their very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and a number of factors could cause
actual events or results to differ materially from the results discussed in
the forward-looking statements. In evaluating these statements, readers should
specifically consider various factors that may cause actual results to differ
materially from any forward-looking statement.
These factors include, but are not limited to, market and general economic
conditions, the nature of the financial services industry, and the risks and
uncertainties detailed from time to time in Fiera Capital's interim and annual
consolidated financial statements, and its Annual Report and Annual
Information Form filed on www.sedar.com. These forward-looking statements are
made as of the date of this document, and Fiera Capital assumes no obligation
to update or revise them to reflect new events or circumstances.
For Fiera Capital:
Montreal Roch Landriault NATIONAL Public Relations
Toronto and elsewhere Jennifer Lee NATIONAL Public Relations 416.848.1383
For UBS: Megan Stinson UBS Corporate Communications 212.713.1302
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-0- Dec/11/2012 07:00 GMT
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