National Bank of Canada said today that it has purchased San Francisco-based Putnam Lovell. The deal is expected to close in May. Further terms where not disclosed. Putnam Lovell, a specialist in providing investment banking to financial services firms, will be acquired through the Canadian bank's National Bank Financial subsidiary.

"This acquisition represents a step forward in the global arena and an important strengthening of our domestic Canadian position," said Kym Anthony, chief executive of National Bank Financial, in a statement.  

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