Jovian Completes Sale of Felcom Data Services Business to CIBC Mellon

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Jovian Completes Sale of Felcom Data Services Business to CIBC Mellon

//business-finance.news-articles.net/content/200 .. elcom-data-services-business-to-cibc-mellon.html

Published in Business and Finance on Monday, October 26th 2009 at 5:41 GMT by Market Wire
^{🞛 This publication is a summary or evaluation of another publication}

TORONTO, Oct. 26 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV: TSX) announces that, further to the announcement of October 8, Jovian and CIBC Mellon Global Securities Services Company ("CIBC Mellon") have completed the acquisition by CIBC Mellon of the unitholder recordkeeping and fund administration business of Felcom Data Services Inc. ("Felcom"), a wholly-owned subsidiary of Jovian, for a purchase price of approximately C$4.2 million, subject to adjustments.

Pursuant to this transaction, Felcom has transferred its client contracts to CIBC Mellon, and CIBC Mellon has hired the majority of Felcom employees who supported the recordkeeping and fund administration business of Felcom.

About Jovian Capital Corporation

Jovian acquires, creates and grows financial services companies specializing in wealth and asset management. The Jovian group of companies (AlphaPro Management Inc., BetaPro Management Inc., Horizons Exchange Traded Funds Inc., Horizons Funds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., MGI Financial Inc., MGI Securities Inc., MGI Securities (USA) Inc. and T.E. Wealth) manages approximately $11.5 billion of client assets ($7.0 billion in assets under management and $4.5 billion in assets under administration). Additional information is available at [ www.joviancapital.com ] and [ www.sedar.com ].