Saks CEO Marc Metrick will stay with the company to serve as CEO of Saks Global Operating Group. Ian Putnam, president and CEO of HBC Properties and Investments, will serve as CEO of Saks Global Properties & Investments. Both will report to Richard Baker, Saks Global's executive chairman. Bergdorf Goodman will remain a stand-alone business and Tracy Margolies, who was previously Saks' chief merchandising officer, will be Bergdorf Goodman's new president.

The completion of the acquisition brings full circle a deal that was first announced this summer by Saks Fifth Avenue parent HBC. As a result of the transaction, HBC's Canadian business -- including Hudson's Bay stores and its website -- has been recapitalized and will be separately financed from Saks Global.

Baker said in a statement that uniting the brands creates "an unparalleled multi-brand luxury portfolio with tremendous growth potential. With data and innovation at our core and a portfolio of prime real estate, we aim to redefine the luxury shopping experience."

Saks Global also announced new leaders Monday. Emily Essner, who was previously Saks' chief marketing officer, has been appointed to the newly created position of president and chief commercial officer at Saks Global. Bill Bine was appointed to the new role of chief transformation officer at Saks Global. Bine was previously chief supply chain officer at Neiman Marcus Group.

Saks has experienced several significant business changes this year. In April, Saks Fifth Avenue's e-commerce business secured $60 million in liquidity and the company debuted a retail media network, tapping into first-party shopper data from a reported 435 million annual website visitors.

In July, Saks Firth Avenue began expanding its Fifth Avenue Club personal shopping and styling services to additional locations. Also that month, shortly after the acquisition of Neiman Marcus was announced, Saks Fifth Avenue's chief operating officer and Saks Off 5th's chief merchant left.