The chief executive of BMO Financial Group said the deal would enhance its investment platform capabilities to the UK and rest of Europe.
He said: “Adding a European base builds scope and scale to our well-established portfolio of wealth management businesses and rounds out what is a broad global offering.”
Barry McInerney, co-chief executive of BMO Global Asset Management, said investors are increasingly demanding global products, strategies and solutions – wherever they are based.
He added: “With this acquisition, BMO Global Asset Management is able to leverage ideas better cross-border and bring more comprehensive solutions to our clients around the world.”
Richard Wilson will remain as chief executive of F&C.
Adviser view
Gordon Bowden, director of North Marston-based Quainton Hills Financial Planning, said: “In the short and medium term, I cannot see this will make any change to the way F&C goes about its asset management.”
