BMO Financial Group is to acquire Hong
Kong-based independent investment manager Lloyd George Management
(LGM) to bolster its wealth management capabilities in Asia.

The boutique asset manager, LGM, specialises
in Asia and global emerging markets with a local presence in
London, Singapore, Mumbai and Florida. 

The deal forms a key part in BMO’s Greater
China strategy which centres on the expansion of portfolio
management in the area, said BMO private client group president
Gilles Ouellette.

LGM has over 80 employees across portfolio
management and research, client service, administration and
compliance. The firm is understood to have assets under management
of about $6bn.

The acquisition is expected to close early in
the third quarter of 2011, subject to regulatory and other
approvals. 

 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

BMO granted China investor
licence

Meanwhile, the China Securities Regulatory
Commission approved both BMO and Julius Baer as Qualified Foreign
Institutional Investors (QFII) last month.

The QFII licence is the only method through
which foreign investors can trade China’s domestically listed
yuan-denominated A shares.