CIBC to acquire MFS McLean Budden's private wealth unit
TORONTO Aug 7 (Reuters) - Canadian Imperial Bank of Commerce has agreed to acquire MFS McLean Budden's private wealth business, which manages about $1.4 billion in assets for high-net-worth individuals, families, endowments and foundations.
Terms of the deal, which is expected to close in the fourth-quarter of this year, were not disclosed in CIBC's statement on Tuesday.
CIBC said the deal solidifies its position as one of Canada's fastest growing wealth managers.
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