Computershare to acquire share ownership management services business of National Bank Trust
Montreal, 1 March 2006 -
Computershare Trust Company of Canada, a subsidiary of Computershare Limited (ASX:CPU) today announced that it has reached an agreement to purchase the share ownership management business of National Bank Trust, a subsidiary of National Bank of Canada (TSX:NA). The transaction amount has not been disclosed.
Under the agreement, Computershare will acquire all of the transfer agent and employee plan administration activities and a portion of the corporate trust services business of National Bank Trust.
“This acquisition will complement our service offering in the important Quebec region,” said Chris Morris, CEO of Computershare. “National Bank’s clients and other issuers throughout Canada will benefit from our emphasis on customer-focused quality, service and innovation.”
“In a constantly changing market, it was natural for National Bank Trust to transfer these activities to Computershare so we could focus more closely on our core business. Nonetheless, our existing clients will benefit from a fuller suite of integrated services, while employees will have access to career development opportunities at Computershare,” explained Éric Laflamme, President and Chief Executive Officer of National Bank Trust.
An approximate six-month transition period is expected to ensure a smooth and seamless transfer of the bank’s operational and IT activities for all share ownership management clients.
Computershare (ASX: CPU) is a global leader in transfer agency, employee equity plans, proxy solicitation and other specialized financial and communication services. Many of the world's largest companies employ our innovative solutions to maximize the value of their relationships with investors, employees, customers and members. Computershare has approximately 10,000 employees across the world and serves 14,000 corporations and 90 million shareholders and employee accounts in 21 countries across five continents. For more information, visit www.computershare.com.
About National Bank of Canada
National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management, as well as mutual fund and retirement plan management. National Bank has close to $108 billion in assets and, together with its subsidiaries, employs 16,890 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA: TSX). For more information, visit the Bank’s website at www.nbc.ca.
For more information, please contact:
(The telephone numbers provided below are for the exclusive use of journalists and other media representatives)
Computershare North America
EVP, Marketing and Strategic Development
National Bank of Canada
Director, Public Relations
Tel: 514- 394-8644