Ameriprise Economic to Purchase BMO’s EMEA Asset Administration Business enterprise | Business enterprise & Finance

The acquisition will more speed up Ameriprise’s main strategy of growing its rate-centered firms and boost the over-all contribution of Wealth Management and Asset Management within its diversified organization. Alongside one another with BMO’s EMEA asset management organization, Ameriprise will have additional than $1.2 trillion of assets less than management and administration.

The acquisition enhances Columbia Threadneedle Investments’ core small business and world growth system, including a substantial presence in the European institutional industry and considerably expanding its expenditure capabilities and remedies to satisfy developing client need. The addition of BMO’s EMEA asset administration business enterprise will maximize Columbia Threadneedle’s AUM to $671 billion. It will significantly improve EMEA AUM and develop AUM in the area to 40% of overall Columbia Threadneedle AUM.

In addition, the acquisition establishes a strategic romantic relationship with BMO Prosperity Administration offering its North American Prosperity Management purchasers chances to accessibility a array of Columbia Threadneedle expenditure management options. Separately, in the U.S., the transaction also involves the option for specific BMO asset management consumers to shift to Columbia Threadneedle, subject to consumer consent.

The transaction is anticipated to be accretive in 2023 and to deliver an interior rate of return of 20%. Offered the firm’s sizeable excess funds position and free of charge money movement generation, the company’s money return system stays on observe.

Jim Cracchiolo, Chairman and Chief Executive Officer, Ameriprise Money, stated, “We’ve constructed an exceptional world asset supervisor that complements our major wealth management business and generates powerful final results. BMO’s EMEA asset administration small business will be a great addition to Columbia Threadneedle that will produce meaningful value for customers and our organization. This strategic acquisition signifies an significant next move as we expand our answers abilities, broaden our client supplying and deepen our proficient workforce. We are a disciplined acquirer and believe this transaction will create on our monitor file of prosperous acquisitions for the reward of clients and our other stakeholders.”

The acquisition is anticipated to extend and greatly enhance Columbia Threadneedle’s established strengths and speed up our technique. It positions us well to react to the acquiring wants of our clientele by adding critical capabilities in increasing segments where BMO’s EMEA asset administration company has foremost positions that can be leveraged globally, together with:

• Responsible Financial investment (RI) – A acknowledged chief with a broad range of professional ESG merchandise and a top liable engagement overlay provider supplying company engagement on equity and bond holdings, and proxy voting solutions
• Legal responsibility Pushed Investing (LDI) – A prime four LDI small business in Europe and dominant in the modest/mid-sector sector
• Fiduciary/outsourced management (OCIO) – A important alternatives small business that incorporates fiduciary groups in the Netherlands and Uk
• European Genuine Estate – A continental European immediate actual estate capability based mostly in Germany and France

In addition, the transaction adds depth and breadth in other traditional asset courses. BMO’s European fund range contains several publicly traded financial commitment trusts, together with F&C Financial investment Have confidence in PLC, the world’s longest-tenured financial commitment belief, which enhances our Tri-Continental Corporation, the longest-tenured closed-stop fund in the U.S.

Ted Truscott, Chief Government Officer, Columbia Threadneedle Investments, said, “Adding BMO’s EMEA asset management business is an outstanding development option. The transaction improvements our tactic and enhances our geographic and asset course diversification, enabling us to serve a lot more customers and meet up with far more of their desires. Essential to this opportunity is the solid alignment concerning our companies. We share a client-centric culture, elementary perception in energetic administration, collaborative and exploration-dependent investment decision solution, and prolonged-held commitment to accountable expenditure principles.”

Truscott concluded, “Establishing a new strategic romance with BMO Prosperity Administration is an vital profit of the transaction. We will bring an even more powerful established of abilities to serve the needs of their Prosperity Administration purchasers in Canada and the U.S.”

Joanna Rotenberg, Team Head, BMO Prosperity Management, explained, “Columbia Threadneedle Investments is a powerful strategic and cultural fit for our EMEA asset administration enterprise and is effectively positioned to just take it to the next amount of growth by extending its access, scale and expense capabilities. We appear forward to our strategic romance and presenting our North American Prosperity Management clientele opportunities to obtain a large variety of Columbia Threadneedle financial commitment management methods.”

About Ameriprise Financial

At Ameriprise Monetary, we have been supporting persons truly feel self-confident about their money future for much more than 125 yrs. With a nationwide network of roughly 10,000 economic advisors and comprehensive asset administration, advisory and insurance policies capabilities, we have the toughness and expertise to provide the complete range of particular person and institutional investors’ financial desires. For a lot more data, go to ameriprise.com.

About Columbia Threadneedle Investments

Columbia Threadneedle Investments is a major international asset manager that delivers a broad vary of expenditure strategies and options for personal, institutional and company shoppers around the entire world. With far more than 2,000 persons, which includes about 450 investment decision pros based mostly in North The usa, Europe and Asia, the enterprise manages $547 billion of assets throughout formulated and rising marketplace equities, fixed cash flow, asset allocation answers and possibilities.

Columbia Threadneedle Investments is the worldwide asset administration group of Ameriprise Economic, Inc. Columbia Threadneedle Investments (Columbia Threadneedle) is the world wide model name of the Columbia and Threadneedle team of companies.

Forward-On the lookout Statements

This press release incorporates, and particular oral statements created by our associates from time to time may possibly include, forward-on the lookout statements that mirror management’s plans, estimates and beliefs. Precise results could differ materially from all those explained in these ahead-on the lookout statements. The words and phrases “expect,” “intend,” “includes,” “plan,” “add,” “represents,” “will,” “may,” “believe,” “enhance,” “should”, “could”, or identical expressions are meant to establish forward-hunting statements but are not the distinctive usually means of identifying this sort of statements. Forward-wanting statements are subject matter to risks and uncertainties, which could trigger genuine success to vary materially from these types of statements. Such elements contain, but are not constrained to: the event of any occasion, change or circumstance that could give rise to the termination of the obtain arrangement with BMO Monetary Team the capability of the organizations to combine the enterprise productively and accomplish anticipated objectives and outcomes perhaps adverse reactions or adjustments to business enterprise interactions ensuing from the announcement or completion of the transaction ability of Ameriprise to keep and hire vital staff the incapability to finish the proposed transaction due to the failure to fulfill the conditions to the closing of the proposed transaction, which includes that a regulator may prohibit, hold off or refuse to grant acceptance for the consummation of the proposed transaction uncertainty as to expenditures and the timing of completion of the proposed transaction risks that the proposed transaction disrupts present-day ideas and functions and typical financial and political elements. Management cautions that the foregoing checklist of factors is not exhaustive. There might also be other hazards that management is not able to predict at this time that may induce real outcomes to differ materially from individuals in these ahead-looking statements. Visitors are cautioned not to place undue reliance on these forward-looking statements, which discuss only as of the date on which they are created. Management undertakes no obligation to update publicly or revise any ahead-looking statements. The foregoing list of variables should really be read in conjunction with the “Risk Factors” reviewed below Portion 1, Merchandise 1A of and in other places in our Yearly Report on Kind 10-K for the year ended December 31, 2020 obtainable at ir.ameriprise.com.

In the United kingdom: Issued by Threadneedle Asset Administration Limited. Registered in England and Wales, Registered No. 573204, Cannon Place, 78 Cannon Avenue, London EC4N 6AG, United Kingdom. Authorised and controlled in the Uk by the Economical Carry out Authority.

In the EEA: Threadneedle Management Luxembourg S.A. Registered with the Registre de Commerce et des Sociétés (Luxembourg), Registered No. B 110242

44, rue de la Vallée, L-2661 Luxembourg, Grand Duchy of Luxembourg.

Issued in Hong Kong by Threadneedle Portfolio Products and services Hong Kong Constrained 天利投資管理香港有限公司 (“TPSHKL”). Registered Workplace: Device 3004, Two Exchange Square, 8 Connaught Spot Hong Kong. Registered in Hong Kong less than the Firms Ordinance (Chapter 32), No. 1173058. Authorised and regulated in Hong Kong by the Securities and Futures Commission. Authorisation does not indicate formal approval or advice. The contents of this doc have not been reviewed by any regulatory authority in Hong Kong. You are recommended to exercising caution in relation to the give. If you are in any doubt about any of the contents of this document you should really obtain unbiased professional guidance.

Issued in Singapore by Threadneedle Investments Singapore (Pte.) Limited, 3 Killiney Street, #07-07, Winsland Household 1, Singapore 239519. Controlled in Singapore by the Monetary Authority of Singapore below the Securities and Futures Act (Chapter 289). License variety: CMS100182-1. Any fund outlined in this document is not authorised or recognised by the Financial Authority of Singapore (the “MAS”) and Shares are not authorized to be available to the retail general public. This document is not a prospectus as outlined in the SFA. Accordingly, statutory legal responsibility under the SFA in relation to the information of prospectuses would not apply.

Ameriprise Money, Inc.

Info for assets to be acquired as of 1-31-21. All other knowledge as of 12-31-20.

Resource: LDI – 2019 XPS Financial commitment study

© 2021 Ameriprise Economical, Inc. All legal rights reserved.

Speak to: Media Relations: U.S.

John Brine, Ameriprise Economical

(212) 437-8655 /[email protected] Melville, Columbia Threadneedle Investments

(617) 897-9384 /[email protected] contacts: EMEA and APAC

Laura Prepare dinner, Columbia Threadneedle Investments

+44 ()7766 905826 /laura.prepare [email protected] Duperrier, Columbia Threadneedle Investments

+44 ()7786 396113 /[email protected] Jefferis, Columbia Threadneedle Investments

+44 ()7766 924798 /[email protected] Relations:

Alicia A. Charity, Ameriprise Monetary

(612) 671-2080 /[email protected]

Key word: EUROPE UNITED STATES UNITED KINGDOM NORTH America MINNESOTA MASSACHUSETTS

Business Key word: BANKING Skilled Services FINANCE

Supply: Ameriprise Monetary, Inc.

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PUB: 04/12/2021 07:00 AM/DISC: 04/12/2021 07:01 AM