Bank Of Montreal Expands Into Europe

By Editorial 16 May, 2014

Canada's Bank of Montreal has expanded into Europe's wealth management market through the acquisition of London-based F&C Asset Management.

The acquisition was completed through Bank of Montreal's subsidiary, BMO Global Asset Management. The acquisition will boost the company's ability to offer wealth management services to Canadian expats in Europe, and European expats in Canada.

"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," Bill Downe, the bank's chief executive officer, said.

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."

Tags: Investment | Business | Banking | Canada | Expats | Europe | Invest | North America |


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