Ameriprise to Acquire BMO’s EMEA Asset Management

April 23, 2021

On April 12, 2021, Ameriprise Financial, Inc. announced that it had signed a definitive agreement with BMO Financial Group to acquire its EMEA Asset Management Business.

Under the terms of the transaction, Ameriprise Financial, Inc. (“Ameriprise”) will acquire BMO Financial Group’s (“BMO”) EMEA asset management business for approximately $845 million. The all-cash transaction adds $124 billion to Ameriprise’s assets under management in Europe. The transaction is expected to be profitable in 2023 and generate an internal rate of return of 20%. Further, the acquisition establishes a strategic relationship between BMO and Ameriprise’s global asset management group, Columbia Threadneedle Investments (“Threadneedle”). The transaction, subject to regulatory approvals, is expected to close in the fourth quarter of 2021. Further terms of the deal were not disclosed.

Ameriprise (NYSE: AMP), based in Minneapolis, Minnesota, is a financial services and bank holding company that provides clients with financial planning products and services, such as annuities, wealth management, insurance, estate planning, and asset management.

Threadneedle, based in Boston, Massachussetts, is the global asset management group of Ameriprise. Threadneedle is a global asset manager that provides investment strategies and solutions for clients around the world. Threadneedle has approximately $547 billion in assets under management across developed and emerging market equities, fixed income, asset allocation solutions, and alternatives.

BMO, based in Montreal, Canada, is a diversified financial services provider that offers personal and commercial banking, wealth management, and investment banking products and services to more than 12 million customers. As of January 31, 2021, BMO had assets totaling $973 billion.

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Investment Manager M&A, Transactions