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SG Private Banking buys into Canada

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SG Private Banking has agreed to buy 100% of Canadian Wealth Management (CWM Group). The acquisition, subject to regulatory approval, is expected to be finalised in January 2008.CWM Group was established in Calgary and manages around C$650 million (US$658.2 million)."Its wealth-management business will benefit from SG Private Banking's international expertise, particularly in structured products and alternative investments," says SG in a statement released last month.The acquisition reflects