Canada-based BMO Financial Group has said that it will establish a base for its institutional asset management business in Melbourne, Australia, operating as BMO Global Asset Management.

BMO Global Asset Management will focus on sales and serving the needs of Australia’s institutional investors and will be led by managing director Ravi Sriskandarajah, who has more than 15 years of experience in the asset management industry.

Sriskandarajah will be based out of Melbourne and will spend a significant amount of time in Sydney as well, the company said in a statement.

He will represent an expert team of multi-disciplined asset managers based in Toronto and Chicago, and a global network of investment specialist boutiques based in Miami, Toronto, London, Mumbai, and Hong Kong.

Gilles Ouellette, president and CEO of private client group at BMO Financial Group, said: "With BMO’s growing presence in Asia Pacific, we can offer our current and potential clients more investment options to choose from and easier access to our global network and wide breadth of expertise."

BMO Financial Group has had a presence in Australia since 2004, when BMO Capital Markets opened a representative office in Melbourne offering investment and corporate banking services to global clients doing business in the Asia Pacific region.

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