National Bank Financial, a subsidiary of National Bank of Canada, will merge with Putnam Lovell Group, parent of Putnam Lovell Securities. Terms were not disclosed. The deal is expected to close in May, pending regulatory approval in Canada, the United States and the United Kingdom.
Jennifer Keese, Putnam Lovell spokeswoman, said the firm’s business strategy, client service and senior management there will not change. "The merger is very complementary. There are few overlaps, and we do not anticipate that there will be any layoffs.”
