Desjardins to Purchase Guardian Capital in a $1.67 Billion Canadian Dollars Agreement
Desjardins Group, a leading financial institution headquartered near Montreal, has announced the acquisition of Toronto-based Guardian Capital Group in an all-cash deal worth $1.67 billion CAD. The deal, publicly announced in 2025, is expected to close in early 2026.
George Mavroudis, the CEO and President of Guardian Capital Group, will take on the same role in the combined business following the transaction, which was initiated by Guy Cormier, President and CEO of Desjardins Group.
Desjardins offers a wide range of products and services to individuals and businesses through its distribution network, online platforms, and Canadian subsidiaries. With the acquisition of Guardian Capital Group, the consolidated entity will benefit from expanded reach and enhanced investment solutions for the public and private markets.
The combined organization will continue to operate as a more dynamic and competitive asset management platform, serving institutional, retail, and private clients through its subsidiaries. Following the acquisition, the consolidated entity will maintain about $280 billion CAD in assets under management and advisement.
The acquisition is considered a strategic leap for Desjardins, reflecting its commitment to innovation, excellence, and long-term value creation. Guy Cormier, Desjardins Group president and CEO, stated, "The acquisition will strengthen Desjardins' position in the Canadian financial services landscape."
While the acquisition does not appear to be directly related to the tech and startup jobs in Montreal that Desjardins is currently advertising, there are 24 job opportunities available in the tech and startup sector at Desjardins. Desjardins Group is also known for its commitment to innovation, as evidenced by its focus on tech and startup jobs.
In conclusion, the acquisition of Guardian Capital Group by Desjardins Group represents a significant move in the Canadian financial services industry. The consolidated entity will operate as a more dynamic and competitive asset management platform, with expanded reach and enhanced investment solutions for the public and private markets.
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