Investment banking and asset management firm Lazard has agreed to acquire Verus Partners, a Canada-based independent financial advisory business.
Verus offers M&A, financial and capital markets advice to senior decision makers in companies, families, institutions, financial sponsors and governments across all industry sectors.
Verus managing partner and co-founder Brian Hanson has been appointed as the chairman and CEO of Lazard Canada Investment Banking as part of the deal.
Hanson formerly served as the vice-chairman of CIBC World Markets and co-founder of UBS’s mergers and acquisitions group in New York.
Verus co-founder and senior partner Richard (Dick) Falconer, previously vice chairman of CIBC World Markets, will also join Lazard.
Also joining Lazard is Verus executive Guy Savard, ex-chairman of Merrill Lynch Canada and president and COO of the Caisse de depot et placement du Quebec. Savard will now serve as senior advisor to Lazard in Quebec and Atlantic Canada.
Another Verus executive, Guy Savard – a former chairman of Merrill Lynch Canada who also served as chief operating officer of the Caisse de dépôt et placement du Québec – will become a senior advisor to Lazard in Quebec and Atlantic Canada.
Lazard Financial Advisory CEO Alex Stern said: “Brian and his team bring to Lazard’s global network a number of Canada’s most experienced and knowledgeable advisors, who have deep relationships with Canada’s leading companies. This combination augments the strength of our North American franchise as we continue to focus on growth by investing in our business worldwide.”