MINNEAPOLIS–(Business enterprise WIRE)–Nov 8, 2021–
Ameriprise Economic, Inc. (NYSE: AMP) nowadays introduced that it has finished its beforehand introduced acquisition of BMO Money Group’s (BMO) EMEA Asset Administration enterprise for £615 million, or somewhere around $829 million 1, matter to customary adjustments. The all-hard cash transaction adds close to $131 billion of AUM, bringing Ameriprise whole property under management and administration to far more than $1.3 trillion.
Jim Cracchiolo, Chairman and Main Government Officer, commented, “We’re delighted to finish this strategic acquisition that significantly extends our attain in EMEA and adds important capabilities to Columbia Threadneedle. The BMO GAM EMEA business enterprise is doing well with favourable flows, which enhances the organic progress we have been driving. And importantly, shoppers and institutional consultants have responded favorably. We welcome the team to Ameriprise and Columbia Threadneedle and appear forward to what we are equipped to attain together.”
The acquisition accelerates Ameriprise’s tactic of escalating its price-based mostly enterprises and expanding the in general contribution of Prosperity Management and Asset Management in its diversified business. It enhances Columbia Threadneedle Investments’ main business enterprise and global advancement approach, incorporating a sizeable presence in the European institutional industry and significantly expanding its expenditure abilities and solutions to satisfy developing consumer need. The acquisition provides important capabilities in expanding segments, including Accountable Financial commitment, Liability Driven Investing, Fiduciary/outsourced administration (OCIO) and European Real Estate.
The addition of BMO’s EMEA asset management company improves Columbia Threadneedle’s AUM to much more than $714 billion with geographic harmony in both of those North The usa and EMEA and a developing presence in APAC. In addition, the acquisition establishes a strategic marriage with BMO Prosperity Management supplying its North American Prosperity Management shoppers chances to access a vary of Columbia Threadneedle financial commitment management remedies. Independently, the transaction will result in specified BMO U.S. asset management shoppers going to Columbia Threadneedle, at a later day matter to consumer consent.
About Ameriprise Economic
At Ameriprise Economical, we have been serving to folks sense self-assured about their money potential for far more than 125 yrs. With a nationwide community of approximately 10,000 fiscal advisors and considerable asset management, advisory and insurance plan abilities, we have the toughness and experience to serve the whole array of individual and institutional investors’ economical requires. For additional facts, go to ameriprise.com.
About Columbia Threadneedle Investments
Columbia Threadneedle Investments is a leading world asset supervisor that supplies a broad range of investment decision approaches and options for specific, institutional and company clientele all around the planet. With extra than 2,000 people, together with about 450 financial commitment specialists based mostly in North The us, Europe and Asia, the firm manages far more than $714 billion of property across produced and emerging sector equities, set income, asset allocation options and alternate options.
Columbia Threadneedle Investments is the global asset administration group of Ameriprise Economic, Inc. Columbia Threadneedle Investments (Columbia Threadneedle) is the world wide model name of the Columbia and Threadneedle group of companies.
This press launch includes, and particular oral statements produced by our associates from time to time could comprise, ahead-hunting statements that replicate management’s plans, estimates and beliefs. Genuine results could differ materially from these described in these forward-on the lookout statements. The words and phrases “approximately,” “add,” “increases” or identical expressions are intended to detect forward-seeking statements but are not the special signifies of pinpointing these types of statements. Forward-on the lookout statements are topic to dangers and uncertainties, which could result in true effects to differ materially from these kinds of statements. Such variables incorporate, but are not constrained to: changes in the trade prices the potential of the corporations to combine the company effectively and realize anticipated plans and effects most likely adverse reactions or improvements to business enterprise interactions ensuing from the completion of the transaction potential of Ameriprise to retain and employ crucial staff hazards that the proposed transaction disrupts present-day strategies and functions and typical financial and political variables. Management cautions that the foregoing listing of variables is not exhaustive. There might also be other dangers that management is unable to forecast at this time that may perhaps cause actual results to vary materially from individuals in these ahead-seeking statements. Visitors are cautioned not to put undue reliance on these ahead-hunting statements, which speak only as of the day on which they are made. Management undertakes no obligation to update publicly or revise any ahead-on the lookout statements. The foregoing record of components ought to be browse in conjunction with the “Risk Factors” reviewed underneath Part 1, Merchandise 1A of and in other places in our Once-a-year Report on Type 10-K for the year ended December 31, 2020 readily available at ir.ameriprise.com.
Forex conversion rate of 1.3474 as of 9/30/21
AUM as of 9/30/21
© 2021 Ameriprise Financial, Inc. All legal rights reserved.
Watch resource version on businesswire.com:https://www.businesswire.com/information/residence/20211108005463/en/
Speak to: Media Relations:
John Brine, Ameriprise Financial
(212) 437-8655 /[email protected]
Paul Johnson, Ameriprise Monetary
(612) 671-0625 /[email protected]
Carlos Melville, Columbia Threadneedle Investments
(617) 897-9384 /[email protected]
U.S. Investor Relations:Alicia A. Charity, Ameriprise Economic
(612) 671-2080 /[email protected]
Key phrase: MINNESOTA EUROPE UNITED STATES UNITED KINGDOM NORTH The united states
Business Search phrase: Experienced Providers Insurance policies FINANCE
Resource: Ameriprise Money, Inc.
Copyright Company Wire 2021.
PUB: 11/08/2021 03:30 AM/DISC: 11/08/2021 03:31 AM
Copyright Company Wire 2021.