TORONTO — CIBC has signed a deal to acquire U.S. investment bank Cleary Gull, a Milwaukee-based boutique firm.
Financial terms of the deal were not disclosed.
Cleary Gull specializes in middle market mergers and acquisitions, private capital placement and debt advisory services.
CIBC says the acquisition supports its continued growth in the United States.
The Canadian bank has been ramping up its U.S. presence since it acquired The PrivateBank in 2017.
The transaction is expected to close in the fourth quarter, pending regulatory approval.
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The Canadian Press