BMO said it will merge CTC with its Harris myCFO advisory business, which is a segment of its presence in the US Midwest.
"CTC Consulting’s strong client focus aligns perfectly with BMO and complements our existing ultra-high net worth investment offering by strengthening our manager research and advisory capabilities, especially in the area of alternative investments," remarked Gilles Ouellette, CEO of BMO’s private client group.
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Though the financial terms of the deal were not disclosed, BMO said that they expect the deal to close during the second quarter of 2012.
March 2012 had seen RBC showing interest to buy some overseas divisions of the Coutts private banking business from Royal Bank of Scotland, thereby giving RBC access to HNWI in fast-growing emerging markets.
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