BMO picks up Hong Kong asset manager

By Staff | January 11, 2011 | Last updated on January 11, 2011
1 min read
climbing on an artificial training wall
© kubais / 123RF Stock Photo

BMO Financial Group has struck a deal to purchase Hong Kong-based Lloyd George Management, an independent investment manager with about US$6 billion in assets under management.

“The acquisition of Lloyd George provides the scale for further expansion of BMO Asset Management and bolsters our portfolio management capabilities in Asian and emerging markets, allowing us to meet our institutional, private banking, BMO Nesbitt Burns and retail clients’ growing demand for global investment strategies,” said Gilles Ouellette, president and CEO of BMO’s private client group, and chairman Bank of Montreal (China) Co. Ltd.

BMO is extending offers of employment to the firm’s entire team and Robert Lloyd George will remain chairman of the company, reporting to Barry McInerney, Head of BMO Asset Management – U.S. & International.

Lloyd George Management has offices in London, Singapore, Mumbai and Florida, with 29 investment professionals.

“Wealth management is a key component in BMO’s Greater China strategy,” Ouellette added. “This acquisition will complement our established presence in China, including the recent incorporation of our wholly owned banking subsidiary; our equity interest in Fullgoal Fund Management Co., one of China’s leading fund management companies; and our M&A advisory services.”

Advisor.ca staff

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.