Desjardins Group completed the acquisition of the life insurance, mutual fund and investment distribution networks from Guardian Capital Group for $555m.

Desjardins Group, a financial services provider, completed the acquisition of the life insurance, mutual fund and investment distribution networks from Guardian Capital Group, a provider of investment management services, for $555m. "This acquisition strengthens Desjardins in the important life insurance and wealth management sectors across Canada. On the insurance side, it extends our market reach and positions us as a leader in life insurance independent distribution in Canada. On the financial advisory side, the mutual fund and securities dealers will enhance and strengthen our distribution of retail investment products. With this added bench strength, Desjardins will be able to serve more Canadians and achieve critical mass to generate the financial flexibility to innovate and invest to better meet the needs of our members, clients and advisors," Guy Cormier, Desjardins Group President and CEO.