MONTREAL — National Bank of Canada has signed a deal to buy PGM Global Holdings Inc., the parent company of PGM Global Inc. which is a Montreal-based provider of institutional trading services.
Terms of the agreement were not immediately available, though National Bank said the value of the deal would not have a material impact on its financial position.
The bank says PGM Global will complement the services offered by National Bank Independent Network, which offers custody, trade execution, and brokerage services to independent wealth management firms.
National Bank also says PGM Global's dual registration with both the Canadian Investment Regulatory Organization and the Financial Industry Regulatory Authority in the U.S. will improve its ability to cater to expanding client needs.
PGM Global chief executive Patrick Belland says the company is confident the deal will create significant advantages for the clients it serves.
The deal is expected to close in late spring this year, subject to closing conditions and regulatory approvals.
This report by The Canadian Press was first published April 23, 2025.
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