CIBC has signed a deal to acquire Wellington Financial as part of its plan to grow its business in the fast-moving technology sector.
Financial terms of the deal were not immediately available.
The specialty finance firm will become part of CIBC Innovation Banking, a new business for the big bank (TSX:CM) focused on providing strategic advice and funding to technology sector clients.
OBJ360 (Sponsored)
Paris, Tokyo, or Berlin, even if we don’t have centuries of urban legacy to build on. We have an official plan that, initially, sets out ambitious planning goals. The minutiae
Why your next investment should be Canadian art
Ahead of its highly anticipated Give to Get Art Auction on May 29th, the Ottawa Art Gallery (OAG) offers some expert advice on investing in art. Art can inspire, spark
Wellington Financial chief executive Mark McQueen will become president and executive managing director of CIBC Innovation Banking.
Founded in 2000, Wellington Financial has been focused on providing growth capital to early and mid-stage technology companies.
It is based in Toronto with offices in New York and California.
