CWB to invest in wealth management firm, McLean & Partners

EDMONTON, April 23, 2013 /CNW/ - Canadian Western Bank (CWB or "the Bank") 
today announced it has signed a definitive agreement to acquire 55% ownership 
of McLean & Partners Wealth Management Ltd. (McLean & Partners), a 
Calgary-based firm specializing in wealth management for high net worth 
individuals. The transition of ownership will be seamless with no disruption 
to customers or employees. McLean & Partners' executive management remains 
committed to continue building this business and will retain 45% ownership in 
the company. 
With assets under management approaching $1 billion, the investment strategies 
and services of McLean & Partners are an excellent strategic fit with CWB's 
existing banking, trust and wealth management operations. The transaction, 
which is subject to regulatory approvals, supports a key strategic objective 
to enhance the CWB's revenue diversification and earnings contributions from 
less capital intensive sources. Specific financial details of the all-cash 
transaction have not been released. At the outset, the transaction is not 
expected to have a material impact on CWB's overall regulatory capital 
position or adjusted earnings per common share. The transaction is expected to 
close within 30 days. 
"McLean & Partners is recognized for its history of strong performance and 
commitment to superior client service, which aligns closely with the 
fundamental objectives and principles of CWB Group" said Chris Fowler, 
President & CEO of CWB Group. "This transaction is also aligned with our 
strategy to add capacity and scale to our wealth management operations, while 
expanding our geographic reach to better match our branch footprint across 
Western Canada. We are excited to welcome McLean & Partners' entire team, and 
look forward to working with them as we continue to add value for our clients 
and CWB shareholders," added Fowler. 
"This is a tremendous opportunity for McLean & Partners to join forces with a 
strategic shareholder that is a financially strong and growing Western 
Canadian financial institution," said Brent McLean, Chief Executive Officer 
and co-founder of McLean & Partners. "Our unique and independent investment 
solutions will remain unchanged and, as always, our staff will strive to do 
the very best we can for our clients. While building on our existing client 
relationships will remain a top priority, we are also very excited about the 
opportunity to further augment CWB Group's existing wealth management 
offerings." 
About Canadian Western Bank 
Canadian Western Bank offers a full range of business and personal banking 
services across the four western provinces and is the largest publicly traded 
Canadian bank headquartered in Western Canada. The Bank, along with its 
operating affiliates, National Leasing Group Inc., Canadian Western Trust 
Company, Canadian Direct Insurance Incorporated, Valiant Trust Company, Adroit 
Investment Management Ltd. and Canadian Western Financial Ltd., collectively 
offer a diversified range of financial services across Canada and are together 
known as the Canadian Western Bank Group. The common shares of Canadian 
Western Bank are listed on the Toronto Stock Exchange under the trading symbol 
"CWB". The Bank's Series 3 Preferred Shares trade on the Toronto Stock 
Exchange under the trading symbol "CWB.PR.A". Refer to www.cwb.com for 
additional information. 
About McLean & Partners Wealth Management Ltd. 
McLean and Partners Wealth Management is a Calgary-based investment company, 
offering portfolio management services to affluent families since 1999. 
Managing close to $1 billion, the company develops custom portfolios through 
segregated and private investment strategies encompassing global equities, 
fixed income and market alternative investments. For additional information 
visit www.mcleanpartners.com. 
Chris Fowler President and Chief Executive Officer Canadian Western Bank 
Phone: (780) 423-8888 
Kirby Hill, CFA Director Strategy & Communications Canadian Western Bank 
Phone: (780) 441-3770 E-mail:kirby.hill@cwbank.com 
SOURCE: Canadian Western Bank 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/April2013/23/c7989.html 
CO: Canadian Western Bank
ST: Alberta
NI: FIN LOAN MNA  
-0- Apr/23/2013 22:00 GMT
 
 
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