|By Marketwired .||
|June 12, 2014 04:49 PM EDT||
TORONTO, ON--(Marketwired - June 12, 2014) - Scotiabank today announced the close of a transaction to acquire 40% of Aurion Capital Management shares. Terms are not material to Scotiabank and were not disclosed.
Aurion Capital is an investment management firm focused on institutional investors, as well as private client and sub-advisory mandates. Founded in 1996, Aurion Capital has $6.1 billion in assets under management and advises on $4.8 billion of assets in a fiduciary investment management mandate. In February 2011, Scotiabank acquired majority ownership of Aurion Capital through the Bank's acquisition of DundeeWealth. DundeeWealth had acquired a 60% stake in Aurion Capital in July 2008.
Scotiabank is a leading financial services provider in over 55 countries and Canada's most international bank. Through our team of more than 86,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal and commercial banking, wealth management, corporate and investment banking to over 21 million customers. With assets of $792 billion (as at April 30, 2014), Scotiabank trades on the Toronto (TSX: BNS) and New York (NYSE: BNS) Exchanges. Scotiabank distributes the Bank's media releases using Marketwired. For more information please visit www.scotiabank.com.
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