National Bank of Canada Scoops up Putnam Lovell

April 15, 2002 ( - In line with its plans to strengthen its cross-border corporate finance capabilities, National Bank of Canada will acquire US-based boutique-style investment bank Putnam Lovell Group Inc.

The bank will purchase Putnam Lovell through its subsidiary, National Bank Financial Inc. The acquisition, which is subject to regulatory approval, is expected to close in May 2002.

The acquisition will boost National Bank’s profile in the equity finance arena making it a contender in deals targeting medium-sized businesses.

It will also expand its product offering in corporate lending, derivatives, foreign exchange, and fixed income to Putnam Lovell’s existing international client base.

Putnam Lovell’s private equity group manages $175 million on behalf of financial institutions and investors and specializes in structured finance, equity research, sales and trading and private equity for the financial services industry.