Columbia Threadneedle acquires BMO EMEA asset management business

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. Ameriprise said the move "complements" Columbia Threadneedle Investments' core business and global growth strategy, adding a "substantial presenc...