View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
  2. Company news
January 28, 2014updated 04 Apr 2017 2:33pm

BMO to acquire F&C Asset Management

Canada's Bank of Montreal has agreed to acquire London-listed F&C Asset management for approximately £708 million in cash.

By Patrick Brusnahan

Canada’s Bank of Montreal has agreed to acquire London-listed F&C Asset management for approximately £708 million in cash.

BMO, Canada’s fourth largest lender, expects the deal to enhance and grow their wealth management capabilities internationally. F&C shareholders will receive 120p per share with a 2p dividend included.

Bill Downe, CEO of BMO Financial Group, said: "With an established pedigree in fixed income investment and broad equity and property capabilities across its European platform, F&C advances BMO’s capabilities by adding scope and scale to our well-established portfolio of wealth management businesses."

F&C, the 150-year-old investment management firm, held £91 billion in assets under management as of September 2013.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Private Banker International