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Ameriprise To Acquire Bank Of Montreal’s Emea Asset Management Unit

by wealthmanagement.com posted 5months ago 35 views
Ameriprise will buy the EMEA asset management business for $845 million, all in cash. : Ameriprise Financial announced Monday it agreed to acquire the Bank of Montréal’s (BMO) asset management business focusing on Europe, the Middle East, and Africa (EMEA) for $845 million. The transaction, which helps BMO with its stated strategy of offloading non-core assets, adds some $124 billion in assets, mostly in Europe, to Ameriprise. The EMEA asset management firm will operate as a supplement to Boston-based Columbia Threadneedle Investments, an Ameriprise subsidiary that currently holds $547 billion assets and 450 investment professionals across 17 countries.

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