Will CIBC buy Russell?

By Staff | April 24, 2014 | Last updated on April 24, 2014
1 min read

CIBC is teaming up with private equity firms, including CVC Capital Partners Ltd., for a potential purchase of Russell Investments, according to Reuters.

Read: CIBC’s CEO to retire

Northwestern Mutual Life Insurance Co. owns Russell, and reportedly wants $3 billion.

“For CIBC, an acquisition of Russell Investments would boost its asset management business and its global presence. The Toronto-based bank, like many of its Canadian peers, has stated that it plans to actively build scale in its asset management business via acquisitions,” the report notes.

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Advisor.ca staff


The staff of Advisor.ca have been covering news for financial advisors since 1998.