Financial institution Desjardins to acquire Guardian Capital in a $1.21 billion private acquisition agreement

Desjardins to Acquire Guardian Capital Group in CAD 1.67 Billion Deal

In a significant move, Desjardins Group has agreed to acquire Guardian Capital Group in a take-private transaction valued at approximately CAD 1.67 billion ($1.21 billion). The deal, announced in 2025, is expected to create a powerful global asset management platform.

George Mavroudis, the current President and CEO of Guardian Capital Group, will serve as the CEO of the newly formed entity. Nicolas Richard, president and COO of Desjardins Global Asset Management, will be part of the executive team.

The merger will combine the resources of Desjardins Global Asset Management with Guardian, resulting in a combined entity managing approximately CAD 280 billion in assets. This merger is expected to enhance Desjardins' asset management capabilities both in Canada and internationally.

Guardian's international operations span North America, Europe, and other global markets. Established in 1962, Guardian serves institutional, retail, and private clients through its subsidiaries. As of 30 June 2025, Guardian managed CAD 164.1 billion in total client assets and held an investment portfolio valued at CAD 1.25 billion.

Desjardins' past moves in Canada include the 2015 acquisition of State Farm's Canadian operations and the establishment of Aviso Wealth in partnership with Canada's credit union centrals in 2018. The acquisition of Guardian Capital follows earlier acquisitions, such as Worldsource in 2023 and The Insurance Company of Prince Edward Island in 2024.

Desjardins' Group president and CEO, Guy Cormier, stated that the acquisition will build a leading platform with the scale, capabilities, and reach to serve investors in Canada and around the world.

Desjardins' Capital Markets is acting as Desjardins' financial advisor, while Stikeman Elliott is serving as legal counsel. The acquisition is pending approval from courts, shareholders, and regulatory bodies, with completion anticipated in the first quarter of 2026.

In a statement, George Mavroudis, the president and CEO of Guardian, stated that the transaction marks a pivotal opportunity for Guardian to align with a strong strategic partner. He expressed his confidence in the combined entity's ability to deliver value to clients and create opportunities for growth.

This acquisition is set to reshape the landscape of the global asset management industry, offering a promising future for both Desjardins and Guardian's clients and stakeholders.

Financial institution Desjardins to acquire Guardian Capital in a $1.21 billion private acquisition agreement