Ameriprise Financial (AMP) Reports Acquisition of EMEA Asset Management Business from BMO Financial Group (BMO)

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Ameriprise Financial to Acquire BMO’s EMEA Asset Management Business

April 12, 2021 7:00 AM EDT

Strategic acquisition accelerates growth of Columbia Threadneedle Investments in EMEA, significantly broadening client offering

MINNEAPOLIS, BOSTON & LONDON--(BUSINESS WIRE)--

Ameriprise Financial, Inc. (NYSE: AMP) today announced that it has signed a definitive agreement with BMO Financial Group (BMO) to acquire its EMEA asset management business for £615 million, or approximately $845 million. The all-cash transaction adds $124 billion of AUM in Europe and is currently expected to close in the fourth quarter of 2021, subject to regulatory approvals in the relevant jurisdictions.

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