Columbia Threadneedle acquires BMO EMEA asset management business

Columbia Threadneedle Investments is to assume BMO's EMEA asset management business, growing firm AUM to $671bn, ahead of a £615m deal struck by parent company Ameriprise Financial.  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 weal...