Montreal-based Fiera Capital Corporation is intensifying its focus on serving Canada's high net worth client base, as it reaches an agreement to acquire Société Générale Private Banking's Calgary-based Canadian Wealth Management.

As part of the deal - expected to close in the final quarter of this year - the CWM operations will be fully integrated into Fiera's existing $55 billion (assets under management) business. Fiera’s board of directors has approved the transaction, which is subject to customary conditions, including regulatory approval.

Financial details of the deal were not disclosed.

“We are excited about joining the Fiera team and we believe that this combination will allow us to best serve the unique needs of HNW individuals, while maintaining our renowned and personalized client experience,” said Paul Vaillancourt, chief executive and chief investment officer of CWM. “Our first priority will be ensuring that our existing clients are fully satisfied. Next, we plan to expand Fiera Capital’s private wealth platform in Alberta and across western Canada."

“Expanding our presence in western Canada has been a key strategic priority for some time now and CWM, along with its highly skilled team of professionals, provides an excellent base from which to accelerate our growth in the region,” added Merri Jones, executive vice president at Fiera.

Founded in 1979, Canadian Wealth Management is an integrated wealth management boutique serving clients in western Canada for over 30 years. The firm manages assets for HNW individuals, families, endowments and foundations.