Ameriprise, Amundi add to their European rosters
Ameriprise, Amundi add to their European rosters
Firms target EMEA, ETF expansions in new deals with BMO, Lyxor
Ameriprise Financial Inc. and Amundi made moves earlier this month to bolster their European capabilities.
Ameriprise Financial signed a definitive agreement to acquire BMO Financial Group's EMEA money management business in a £615 million ($850 million) all-cash deal, while Amundi announced it is in exclusive negotiations with Lyxor Asset Management's parent company to acquire the European exchange-traded funds specialist in an €825 million ($970 million) deal.
The Ameriprise agreement will add $124 billion in European assets under management and is set to complete in the fourth quarter, subject to regulatory approvals.