National Bank of Canada joins EquiLend Ownership Group
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National Bank of Canada joins EquiLend Ownership Group 18 June 2019New York Reporter: Maddie Saghir
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The National Bank of Canada (NBC) has acquired a 10 percent stake in EquiLend from J.P. Morgan following clearance from EquiLend’s regulators in the UK, Canada and Ireland.
EquiLend owners now include NBC and J.P. Morgan as well as Bank of America Merrill Lynch, BlackRock, Credit Suisse, Goldman Sachs, Morgan Stanley, Northern Trust, State Street and UBS.
The deal was announced in December last year and closed in June 2019; J.P. Morgan previously held a 20 percent stake in Equilend.
Brian Lamb, CEO of EquiLend, commented: “We are very excited to welcome National Bank of Canada to our ownership group and look forward to the firm’s insights as a member of our Board of Directors.”
Lamb added: “NBC has long been a supporter of leading-edge technology and innovation in securities finance, so the firm is a natural fit as an owner of EquiLend.”
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