QUEBEC CITY, Aug. 8, 2017
/CNW Telbec/ - Industrial Alliance Insurance and Financial
Services Inc. ("Industrial Alliance" or "iA Financial Group") (TSX:
IAG) and The Bank of Nova Scotia
("Scotiabank") (TSX: BNS) (NYSE: BNS) today announced that
Industrial Alliance has completed the acquisition of HollisWealth
from Scotiabank effective after close of business on Friday, August 4, 2017. The agreement was first
announced on December 5, 2016.
HollisWealth provides diversified investment and wealth
management services to individuals, families and corporations from
300 locations across Canada. With
the addition of HollisWealth, iA Financial Group becomes one of the
largest non-bank wealth management firms in Canada with assets under administration of
close to $80 billion.
About iA Financial Group
Founded in 1892, iA Financial
Group offers life and health insurance products, mutual and
segregated funds, savings and retirement plans, securities, auto
and home insurance, mortgages and car loans and other financial
products and services for both individuals and groups. It is one of
the four largest life and health insurance companies in
Canada and one of the largest
publicly-traded companies in the country. iA Financial Group stock
is listed on the Toronto Stock Exchange under the ticker symbol
IAG.
About Scotiabank
Scotiabank is Canada's international bank and a leading
financial services provider in North
America, Latin America, the
Caribbean and Central America, and Asia-Pacific. We are dedicated to helping
our 23 million customers become better off through a
broad range of advice, products and services, including personal
and commercial banking, wealth management and private banking,
corporate and investment banking, and capital markets. With a team
of more than 88,000 employees and assets of over $921 billion (as at April 30, 2017),
Scotiabank trades on the Toronto
(TSX: BNS) and New York Exchanges (NYSE: BNS). For more
information, please visit www.scotiabank.com and follow us on
Twitter @ScotiabankViews.
SOURCE Industrial Alliance Insurance and Financial Services
Inc.