Jan. 6, 2014
(TSX: CM) (NYSE: CM) announced today that it has completed the acquisition of Atlantic Trust Private Wealth Management, a leading U.S.-based private wealth management firm, from Invesco for
Atlantic Trust manages approximately
* in assets on behalf of its clients through 12 metropolitan locations across
the United States
. The firm provides integrated wealth management solutions for high-net-worth individuals, families, foundations and endowments through a national team of relationship management, investment management, wealth strategies and client service professionals.
"Our acquisition of Atlantic Trust aligns with our strategy to grow our wealth management business in
and supports our goal to grow wealth management to 15 per cent of the bank's overall earnings," said
, Senior Executive Vice-President, CIBC, and Group Head, Wealth Management.
Atlantic Trust was recognized by
Private Asset Management
as the Best Wealth Manager: Long Term Performance (2013)
among firms with more than
in assets under management and has been recognized by
as one of the Top 40 Wealth Managers for the past eight years
"Atlantic Trust provides CIBC with an attractive entry into the U.S. private wealth market," said Mr. Dodig. "Atlantic Trust, like CIBC, shares a commitment to delivering personalized service and value to high-net-worth clients through investment excellence and strategic wealth planning. We are delighted to welcome Atlantic Trust to CIBC and to leverage our combined strengths for further growth in
and the U.S." ___________________________________
As named by Private Asset Management (
Barron's: ranked by client assets in accounts of
or more as of
June 30, 2013
CIBC is a leading Canadian-based global financial institution. Through our Retail and Business Banking, Wealth Management and Wholesale Banking businesses, CIBC provides a full range of financial products to individual, small business, commercial, corporate and institutional clients in
and around the world.
CIBC Wealth Management provides relationship-based advisory services and an extensive suite of leading investment solutions to meet the needs of personal, institutional and high-net-worth clients through an extensive distribution network that includes CIBC Private Wealth Management, CIBC Wood Gundy and CIBC Investor's Edge. Our asset management, retail brokerage and private wealth management businesses combine to create an integrated offer, delivered through nearly 1,500 advisors across
. In addition, CIBC Asset Management provides global money manager services to institutional and high-net-worth clients and industry-leading retail investment solutions through our two mutual fund families - CIBC and Renaissance - and the CIBC family of managed portfolio solutions.
About Atlantic Trust
Atlantic Trust is one of
the United States'
leading private wealth management firms, offering integrated wealth management for high-net-worth individuals, families, foundations and endowments. The firm considers clients' financial, trust, estate planning and philanthropic needs in developing customized asset allocation and investment management solutions. Experienced professionals deliver a broad range of solutions, including proprietary investment offerings and a robust multi-manager investment platform of traditional and alternative managers. For more information, visit
Invesco Ltd. is a leading, independent, global investment management firm dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high-net-worth clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ.