|
|
|
|
|
|
| Excellent strategic, financial and cultural fit; Bolsters BMO Global Asset Management's scale, product set and distribution capabilities |
TORONTO, ON and LONDON, UK, May 8, 2014 - (ACN Newswire) - Bank of Montreal (TSX: BMO)(NYSE: BMO) today announced that it has completed the acquisition of F&C Asset Management plc through its wholly owned subsidiary, BMO Global Asset Management (Europe) Limited.
This acquisition positions BMO Global Asset Management as a globally significant money manager, enhancing its investment platform capabilities and providing attractive opportunities to service wealth markets in the U.K. and the rest of Europe.
"Bank of Montreal is the oldest bank in Canada and our ties with the U.K. have been present since our founding. F&C and BMO share a deeply held conviction for working in the best interests of our clients," said Bill Downe, Chief Executive Officer, BMO Financial Group. "Adding a European base builds scope and scale to our well-established portfolio of wealth management businesses and rounds out what is a broad global offering."
With this acquisition, BMO Global Asset Management now has 24 offices in 14 countries serving clients across five continents, with approximately half of its assets under management managed on behalf of clients located outside of North America.
"In order to serve the needs of our clients, it is important to have a truly global investment platform," said Barry McInerney, Co-CEO, BMO Global Asset Management. "Investors, wherever they are based, are increasingly demanding global products, strategies, and solutions. With this acquisition, BMO Global Asset Management is better able to leverage ideas cross-border and bring more comprehensive solutions to our clients around the world."
F&C will continue to operate under the leadership of its CEO Richard Wilson and his management team. Mr. Wilson will report to Mr. McInerney.
"F&C clients will continue to enjoy the high level of service that they have known and will benefit from BMO's broader array of investment products and solutions," said Mr. Wilson.
About BMO Global Asset Management
BMO Global Asset Management has multi-disciplined asset management teams headquartered in Toronto, Chicago, Hong Kong and London, and a network of investment specialist boutiques that are strategically located across the globe. They include Monegy, Inc., Pyrford International Ltd., Lloyd George Management and Taplin, Canida & Habacht, LLC.
BMO Global Asset Management delivers service excellence from offices throughout North America, and in London, Edinburgh, Dublin, Frankfurt, Amsterdam, Lisbon, Munich, Zurich, Luxembourg, Abu Dhabi, Mumbai, Beijing, Shanghai, Hong Kong, Melbourne and Sydney.
BMO Global Asset Management is a part of BMO Financial Group (TSX: BMO)(NYSE: BMO), a highly diversified financial services provider based in North America with total assets of C$593 billion and approximately 45,500 employees as at January 31, 2014.
CONTACT INFORMATION
Contacts:
For News Media Enquiries
Paul Deegan, Toronto
+1-416-867-3996
paul.deegan@bmo.com
Ralph Marranca, Toronto
+1-416-867-3996
ralph.marranca@bmo.com
Ronald Monet, Montreal
+1-514-877-1783
ronald.monet@bmo.com
Richard Janes, London
+44 (0) 20 7011 4298
richard.janes@fandc.com
For Investor Relations Enquiries
Sharon Haward-Laird, Toronto
+1-416-867-6656
sharon.hawardlaird@bmo.com
Andrew Chin, Toronto
+1-416-867-7019
andrew.chin@bmo.com
Internet: www.bmo.com
www.fandc.com
Topic: Merger & Acquisition
Source: BMO Financial Group
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| BMO Financial Group |
| Feb 13, 2015 09:35 HKT/SGT |
|
MEDIA ADVISORY: BMO Financial Group to Announce its First Quarter 2015 Results |
| Feb 2, 2015 17:50 HKT/SGT |
|
Bank of Montreal Receives Regulatory Approvals for Normal Course Issuer Bid |
| Jan 24, 2015 09:30 HKT/SGT |
|
BMO Financial Group's Canadian Personal & Commercial Banking and Wealth Management Investor Day to Be Broadcast on the Web |
| Jan 23, 2015 09:50 HKT/SGT |
|
Bank of Montreal to Redeem $400,000,000 Non-Cumulative 5-Year Rate Reset Class B Preferred Shares Series 23 |
| Dec 3, 2014 13:45 HKT/SGT |
|
BMO Financial Group Reports Net Income of $4.3 Billion for Fiscal 2014 |
| Dec 3, 2014 11:15 HKT/SGT |
|
BMO Financial Group Increases Common Share Dividend |
| Dec 3, 2014 11:00 HKT/SGT |
|
BMO Financial Group Announces Intention to Repurchase Up to 15 Million of its Common Shares |
| Nov 27, 2014 09:55 HKT/SGT |
|
BMO Capital Markets Named Best Bank for the Canadian Dollar by FX Week for Fourth Consecutive Year |
| Nov 18, 2014 10:30 HKT/SGT |
|
MEDIA ADVISORY: BMO Financial Group to Announce its Fourth Quarter and Fiscal 2014 Results |
| Sept 9, 2014 11:30 HKT/SGT |
|
Media Advisory: BMO's Cam Fowler to Speak at CIBC World Markets Eastern Institutional Conference |
| More news >> |
 |
|
|
|
