The firm's revenues also declined
Fiera will distribute Natixis investment strategies in Canada
John Bai brings more than 25 years of industry experience to the role
Most of the firm's brands will operate under the Manulife Investment Management banner
Talks have been ongoing for months, the Financial Times reports
The company has agreed to sell its U.S. asset management, broker dealer and advisory businesses
TD Greystone Asset Management will become the new advisor in April
The deal, valued at $74 million, is expected to close in Q2
Moody's estimates the new EU requirements will add between 0.25% and 2.0% to firms’ costs
The two companies together will have approximately $475 billion of assets under management