Ameriprise Financial acquires Bank of Montreal’s EMEA asset management business.
Ameriprise Financial Inc. (Ameriprise) acquired the bank of Montreal’s EMEA asset management business in November of 2021 for $829.0 million. This acquisition aids in the company’s global growth strategy and compliments Columbia Threadneedle Investments, a subsidiary of Ameriprise, core business strategy and will aid in satisfying growing client demand. This transaction will result in the United States asset management clients of the Bank of Montreal beginning working with Columbia Threadneedle Investments. This transaction adds $131 billion of assets under management for the company. Ameriprise’s total assets under management are now $1.3 trillion.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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