Columbia Threadneedle acquires BMO EMEA asset management business

Columbia Threadneedle acquires BMO EMEA asset management business
Ameriprise Financial strikes £615m deal
The deal brings $124bn to the group's European AUM
Columbia Threadneedle Investments is to assume BMO's EMEA asset management business, growing firm AUM to $671bn, ahead of a £615m deal struck by parent company Ameriprise Financial.
Ameriprise has signed a definitive agreement with BMO Financial Group to acquire the business in an all-cash transaction, which has added $124bn to the group's European AUM and taken total AUM to $1.2trn.
The deal, which is expected to close in the fourth quarter of 2021, subject to regulatory approvals, "will further accelerate" Ameriprise's strategy of growing its fee-based businesses, and grow its wealth and asset management capabilities.

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