Bloomberg
Ameriprise to Buy BMO Unit With $124 Billion in Client Funds
(Bloomberg) — Bank of Montreal agreed to sell its Europe, Middle East and Africa asset-management unit to Ameriprise Financial Inc. for 615 million pounds ($847 million), marking Chief Executive Officer Darryl White’s biggest move yet to trim the bank’s portfolio of non-core businesses.The sale includes the opportunity for some U.S. clients to move to Ameriprise’s Columbia Threadneedle Investments unit, subject to…
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