I hope that you are having a fantastic summer so far. As we head into the second half of the year, I wanted to share with you a brief update on Cidel.
It has been an exciting and busy first half of 2016 for us. Our goal has always been to build a world-class global private bank for Canadian and global families, and this year we have achieved a number of notable milestones:
- We acquired the remainder of Toron AMI, and have amalgamated the firm within Cidel, providing us with a world class active equity and fixed income platform and portfolio management team
- In March, the Minister of Finance and OSFI granted us letters patent to become a regulated bank in Canada, and we expect to begin taking deposits and offering margin lending solutions by the end of the year
- In June, we launched a fresh and exciting re-brand of Cidel that better articulates our comprehensive service offering and client- and employee-focused culture
- We surpassed $13 billion in asset under administration
We are unique in Canada in that we offer the full breadth of services of the world’s leading global private banks with the personalized service, continuity of personnel and customized solutions of a boutique investment manager. We do this via three distinct but inter-connected service offerings:
We are very proud of what we have built and for the future of Cidel, and I welcome the opportunity to further discuss your particular requirements and how we could be of service.