National Bank of Canada (the Bank) operates in three business segments: Personal and Commercial, Wealth Management and Financial Markets. The Bank’s Personal and Commercial segment comprises the branch network, intermediary services, credit cards, insurance, business banking services and real estate. The Wealth Management segment comprises full-service retail brokerage, direct brokerage, mutual funds, trust services and portfolio management. The Financial Markets segment encompasses corporate financing and lending, treasury operations, including asset and liability management for the Bank, and corporate brokerage. During the fiscal year ended October 31, 2008, the Bank completed the acquisition of four investment management firms. On August 25, 2008, the Bank, through one of its wholly owned subsidiaries, concluded the sale of a controlling interest in Asset Management Finance Corporation to Credit Suisse Group A G.
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