F&C AM to become BMO Global AM
BMO financial group has announced that its asset management business in Europe, the Middle-East and Africa (EMEA) will be rebranding as BMO Global Asset Management.
F&C AM’s institutional, intermediate retail and wholesale business will operate under this new brand. F&C REIT, the direct property investors, will be re-branded as BMO Real Estate Partners. All changes are effective as from 6 July.
BMO said there F&C’s investment trust business will not change. Fund names will remain the same.
The F&C distribution teams will work under the BMO Global Asset Management brand.
They will be responsible for distributing the full range of capabilities within the BMO Global Asset Management business, including boutique specialists LGM Investments, Monegy, Pyrford, TCH and the further BMO Real Estate Partners.
Barry McInerney, co-CEO, BMO Global Asset Management, said : “F&C Investments has become renowned for the strong performance of its products, innovative solutions and client dedication. We look forward to building on this success under the BMO Global Asset Management brand.
“As a leading global asset manager, we’re focused on providing clients with solutions that meet their evolving needs by drawing on the success and capabilities across a range of assets. We will continue to provide relevant, best-of-breed products to investors across the region.”
Richard Wilson, chief Executive of F&C Investments and BMO Global Asset Management (EMEA) commented : “As part of BMO Global Asset Management, F&C’s investment capabilities and solutions represent just one dimension of what we can now offer clients.
“We are updating our branding to reflect that better. We will continue to centre our business around our clients, delivering consistent investment performance and reliable delivery of relevant products across Europe.”
Wilson added that BMO Global Asset Management will strengthen its teams and aim to increase its market share in existing markets, such as the UK and Germany. This will also add coverage to additional countries.
BMO Global Asset Management had more than $254bn (€348.7bn) in assets under management, as of 30 April 2015.