Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

BMO completes F&C acquisition

BMO completes F&C acquisition

BMO's F&C takeover deal has completed, giving the Canadian firm access to the UK and Continental European markets via one of the UK's oldest asset managers.

In spite pf resistance from analysts and shareholders, who argued the £708 million bid price was too low, and a review by the office of fair trading, the acquisition was overwhelmingly approved by shareholders.

'Bank of Montreal is the oldest bank in Canada and our ties with the UK 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 at BMO Financial Group, subsidiary of Bank of Montreal. 

'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.'

F&C will continue to operate under the leadership of chief executive Richard Wilson, who will report to Barry McInerney, co-chief executive at BMO Global Asset Management

'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,' Wilson said. 

BMO Global Asset Management is a part of BMO Financial Group, and at the end of January had total assets of C$593 billion and approximately 45,500 employees. The F&C deal will give BMO Global Asset Management 24 offices in 14 countries.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Taxicab Tenner: AXA IM's Nicolas Trindade

Taxicab Tenner: AXA IM's Nicolas Trindade

After a summer break, it is the turn of AXA Investment Manager's Nicolas Trindade to give a £10 view of how fixed income is faring.

Play Wealth Manager Olympics: the Relay

Wealth Manager Olympics: the Relay

In the final round of the Wealth Manager Olympics, our intrepid athletes team up for the relay.

Play Wealth Manager Olympics: the Shot Put

Wealth Manager Olympics: the Shot Put

After busting a gut in the 100m sprint, our wealth manager Olympians displayed their brute strength in the shot-put.

Read More
Your Business: Cover Star Club

Profile: gearing up for the shift from consolidation to start-ups

Profile: gearing up for the shift from consolidation to start-ups

‘I think the industry is evolving rapidly, but not necessarily as a whole,’ says the head of recently launched Charles Nicholson AM

Wealth Manager on Twitter