CIXX - CI Financial to acquire Barrett Asset Management

CI Financial ([[CIXX]] +4.3%) announces agreement to acquire Barrett Asset Management, LLC, a New York-based registered investment advisor with wealth and investment management capabilities catering primarily to high-net-worth and ultra-high-net-worth individuals and families.Barrett brings $2.5B in assets to CI’s fast-growing U.S. wealth management footprint. On completion of the acquisition, CI is expected to have ~$50B in U.S. assets and total assets of $212B.The acquisition exemplifies CI CEO Kurt MacAlpine’s mission to expand wealth management and globalize the company by teaming with strong U.S. wealth management businesses.

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CI Financial to acquire Barrett Asset Management